Capital One will reportedly pay $425 million to settle a lawsuit accusing it of cheating savings account depositors. That’s according to a report by Reuters on Friday (May 16), citing court documents. The proposed settlement comes amid similar litigation against Capital One by New York...
Verizon has launched a long-term partnership with Santander’s U.S. digital banking platform. The collaboration, announced Tuesday (March 18), offers a high-yield savings account on Santander’s Openbank platform to Verizon’s mobile and 5G customers in the U.S. The Verizon + Openbank Savings account, the companies said...
The Consumer Financial Protection Bureau (CFPB) dropped a lawsuit against Capital One on Thursday (Feb. 27). A Capital One spokesperson told PYMNTS in an emailed statement: “We welcome the CFPB’s decision to dismiss this action, which we strongly disputed.” The CFPB announced the lawsuit in January,...
Capital One disclosed Thursday (Oct. 31) that it could face an enforcement action by the Consumer Financial Protection Bureau (CFPB) regarding its introduction of a new savings account product with a higher interest rate than its existing savings account products. The regulator sent the bank...
August 19, 2024
For Klarna, buy now, pay later (BNPL) may serve as an onramp toward building a wider financial ecosystem tied to its app — and perhaps, will give banks a run for their money (literally). The company said in a blog post on Thursday (Aug. 15) that it would debut personal accounts for its users, and, […]
June 26, 2023
In May 2023, the Federal Reserve released the Economic Well-Being of U.S. Households in 2022, the latest edition of an annual report often used to measure financial well-being. Since 2013,...
January 05, 2023
Banks risk losing customers to neobanks — and a key battleground may lie with savings accounts. And in that case, the advantage may go to the traditional financial institutions (FIs),...
August 13, 2018
Oh, Canada? A good market to be in for FIs seeking to create digital only banks, if you get the rates right, the timing right and do the fine tuning...
September 29, 2025
UK FinTech Revolut has launched a high-yield savings account for American customers. The new accounts, which let users deposit up to $10,000, are being rolled as Revolut “targets accelerated growth” in the U.S., the company said in a news release provided to PYMNTS Monday (Sept. 29). “We’ve been working tirelessly to bring a product to […]
May 18, 2025
Capital One will reportedly pay $425 million to settle a lawsuit accusing it of cheating savings account depositors. That’s according to a report by Reuters on Friday (May 16), citing...
March 18, 2025
Verizon has launched a long-term partnership with Santander’s U.S. digital banking platform. The collaboration, announced Tuesday (March 18), offers a high-yield savings account on Santander’s Openbank platform to Verizon’s mobile...
February 27, 2025
The Consumer Financial Protection Bureau (CFPB) dropped a lawsuit against Capital One on Thursday (Feb. 27). A Capital One spokesperson told PYMNTS in an emailed statement: “We welcome the CFPB’s decision...