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0.000463668278465875 -0.000132476650990142 -0.00119228985891241 -0.00457044445916406 6.62383254950712E-05 -0.000264953301980473 0.000496787441213599 0.00218586474133942
Stock impact report

Capital One warns of potential CFPB enforcement action over its savings accounts [Yahoo! Finance]

Discover Financial Services (DFS) 
Last discover financial services earnings: 4/22 05:35 pm Check Earnings Report
US:NYSE Investor Relations: investorrelations.discover.com
Company Research Source: Yahoo! Finance
The company is responding to a letter the Consumer Financial Protection Bureau (CFPB) sent it earlier this month. The agency may also pursue litigation, Capital One warned. At the center of the controversy is a lawsuit filed by some customers last year, who alleged that the company introduced a new "360 Performance Savings" account with a higher interest rate than it was paying to customers of another account with an identical name, "360 Savings." The customers claimed that this mismatch was not clearly communicated, resulting in them missing out on potential earnings. Capital One said it had a contractual right to change interest rates at its discretion and information about the new account was always available on its website. The company and the CFPB did not immediately respond to requests for comment. The probe comes as the company is awaiting regulatory approvals for its $35.3 billion acquisition of Discover Financial Services, which could reshape the payments industry. Show less Read more
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