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Cases & Investigations
Capital One, N.A. and Inspira Financial Trust LLC (formerly known as Millennium Trust Company) Consumer Litigation

Overview
Overview Contact Us About This Case

Type: Current Cases

Case Number: 1:24-cv-04839

Defendant(s): Capital One, N.A. and Inspira Financial Trust, LLC

Product(s): IRA Savings Accounts

Court: United States District Court for the Northern District of Illinois

Wolf Popper is counsel to plaintiffs in a putative class action against Capital One, N.A. and Inspira Financial Trust LLC (formerly known as Millennium Trust Company).  The action alleges that Capital One violated the covenant of good faith and fair dealing when it transferred the plaintiffs’ high-yield IRA savings accounts to Millennium Trust.  Millennium was not a bank and had to sweep the cash to a third party to return any yield on the account.  Although those banks may have paid a competitive rate to Millennium, Millennium kept all that money to itself and paid investors a rate dramatically below benchmark rates such as Capital One’s 360 Performance Savings Account.  Millennium is alleged to have violated the Illinois Consumer Fraud and Deceptive Business Practices Act and the covenant of good faith and fair dealing.  The action is denominated Hewitt v. Capital One, N.A. and is pending in the U.S. District Court for the Northern District of Illinois, Index No. 1:24-cv-04839.   

Contact Instructions
Phone: Robert Finkel - (212) 451-9620
Phone: Timothy Brennan - (212) 451-9616
Email: Outreach@wolfpopper.com
Cases & Investigations:

Related Attorneys

  1. Timothy D. Brennan
  2. Robert C. Finkel

Related Practice Areas

  1. Consumer Litigation & Consumer Fraud Class Actions

Documents & Links

  1. Filed Complaint

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