(WBFF) — Maryland Attorney General Anthony Brown announced a revised settlement with Capital One, requiring the bank to pay $425 million in restitution and offer better interest rates to 360 Savings customers who were previously denied higher interest payments.
The new agreement, which more than doubles the value of an earlier proposed settlement, was reached after Brown joined a bipartisan coalition of attorneys general opposing the initial deal.
“For years, Capital One shortchanged Maryland consumers while steering new customers to much higher rates,” Brown said. “In opposing the previous, unfair settlement, we pushed for a better agreement that returns millions more to Marylanders’ pockets.”…