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On February 26, 2024, thirteen plaintiffs from eight states filed a class action complaint against Capital One Bank, N.A., in Federal District Court for the Eastern District of Virginia.  The complaint concerns the same deceptive and unfair practices that are the focus of a related class action, Savett, et al. v. Capital One, N.A., which was filed in the same court.  In the new action, Hopkins, et al. v. Capital One, N.A., the plaintiffs seek to represent a nationwide Class of Capital One 360 Savings accountholders and subclasses from California, Texas, New York, New Jersey, Florida, North Carolina, Virginia, and Maryland, all of whom were unfairly deprived of interest payments on their purportedly “high interest” online savings accounts.  Wolf Popper LLP serves as counsel for Plaintiffs and the Putative Classes of Capital One 360 Savings accountholders.  Plaintiffs asserted claims of breach of contract, violations of consumer protection statutes, unjust enrichment, and promissory estoppel.
 
Plaintiff Ronald Hopkins, a Capital One accountholder from Texas, and the other twelve plaintiffs maintained 360 Savings accounts, which Capital One had advertised would pay them a high interest rate.  However, unbeknownst to the plaintiffs, Capital One had furtively begun offering a new online savings account, the similarly-named 360 Performance Savings account.  This new account paid substantially higher interest than the 360 Savings account.  At the same time, Capital One scrubbed references to 360 Savings from its website, giving the impression that Capital One had only one savings account with a competitive rate.  Through this scheme, Capital One deprived each plaintiff of interest.
 
The plaintiffs seek to represent a Class of Capital One 360 Savings accountholders as well as subclasses from their states.  Plaintiffs Jerry Magaña, Seth Martindale, Dr. Jay Nagdimon, and Patrick Perger seek to represent a subclass in California;  Plaintiffs Neelima Panchang and Sailesh Panchang seek to represent a subclass in Virginia; Plaintiff Andrew Molloy seeks to represent a subclass in Virginia; Plaintiff Jane Rossetti seeks to represent a subclass in North Carolina; Plaintiff Amber Terrell seeks to represent a subclass in Florida; Plaintiffs Gwendolyn Wright and Ayal Brenner seek to represent a subclass in New York; and Plaintiff Elizabeth Zawacki seeks to represent a subclass in New Jersey.  The plaintiffs assert claims of breach of contract, violations of state consumer protection law, and unjust enrichment.    
 
Capital One 360 Savings accountholders who lost interest payments and who would like to discuss the investigation should contact Philip Black at (212) 451-9628 or pblack@wolfpopper.com or Timothy Brennan at (212) 451-9616 or tbrennan@wolfpopper.com.
 
Wolf Popper has successfully recovered millions of dollars for defrauded consumers.  Wolf Popper’s reputation and expertise have been repeatedly recognized by the courts, which have appointed the firm to major positions in securities litigation.  For more information about Wolf Popper, please visit the Firm’s website at www.wolfpopper.com.
 
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