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Consumer Financial Protection Bureau sues Capital One

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The Consumer Financial Protection Bureau has filed suit against Capital One.

The lawsuit alleges Capital One has misled customers about offerings for high-interest savings accounts. Capital One is accused by the CFPB of allegedly "cheating" customers out of around $2 billion in lost interest payments.

Capital One officials said the company is “deeply disappointed to see the CFPB continue its recent pattern of filing eleventh-hour lawsuits ahead of a change in administration.”

Read more from The Associated Press.

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