The post New York AG Sues Capital One After Federal Case Dropped appeared on BitcoinEthereumNews.com.

MCLEAN VA- FEBRUARY 08: The sun flares over the top of the Capital One logo outside of their … More corporate headquarters complex on February 8, 2024, in McLean, Va. (Photo by J. David Ake/Getty Images) Getty Images Since taking office, the Trump administration has taken a number of actions to reduce investigations of white collar crime including directing the Justice Department to stop prosecutions under the Foreign Corrupt Practices Act which outlaws bribery and corruption in foreign countries, disbanding the Justice Department’s Cryptocurrency Enforcement Unit and reducing the size and support of the Justice Department’s Public Integrity Section which prosecutes public officials accused of corruption and the IRS’ Criminal Investigation Unit. In addition, a number of white collar crime prosecutions begun under the previous administration have been dropped including an action by the Consumer Financial Protection Bureau against Capital One. The CFPB complaint had alleged that Capital One promoted its “360 Savings” account as offering one of the highest interest rates in the country while the bank offered a “360 Performance Savings” account that paid out rates as much as 14 times higher. According to the complaint, Capital One “worked to keep 360 Savings accountholders in the dark about 360 Performance Savings’ existence as a distinct savings product with a higher rate. The Bank gave the two products similar names and marketed 360 Performance savings as it had 360 Savings; it eliminated references to 360 Savings on its website and replaced them with references to 360 Performance savings without disclosing that 360 Savings continued to exist as a distinct product., thus implying the products were the same; it did not specifically notify 360 Savings accountholders about the new product and excluded 360 Savings accountholders from a marketing campaign that advertised 360 Performance Savings to Capital One’s other customers and…

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Filed under: News - @ June 8, 2025 6:10 pm