From CNBC: 2025-05-14 14:35:00

Capital One Financial Corp has reportedly cut 1,100 technology jobs as it transitions digitally. New York Attorney General Letitia James sued the bank for allegedly misleading customers about interest rates, resulting in millions of dollars lost. The lawsuit claims Capital One froze rates for some customers while offering higher rates to others. The dropped suit by the CFPB under Trump’s administration mirrors the New York suit, accusing Capital One of false advertising and cheating customers. The bank has not yet responded to the allegations. The New York lawsuit seeks restitution and damages for affected customers.

Read more: New York AG James sues Capital One after Trump’s CFPB drops claims