According to a regulatory filing, in August 2024, Capital One (COF) received a Civil Investigative Demand from the Consumer Financial Protection Bureau relating to the savings account products at issue in the litigation. In October 2024, the CFPB issued a Notice of Opportunity to Respond and Advise letter indicating that the CFPB is considering an enforcement action against us on similar grounds as the claims in the Savings Account Litigation. “We are responding to the NORA letter and it is possible the CFPB will pursue an enforcement action, including possible litigation, at the end of the NORA process,” the company said.
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