Capital One's Balance Transfer Offer Duped Customers, Suit Says

Law360, New York (October 23, 2012, 9:01 PM EDT) -- Capital One Financial Corp. customers hit the company with a putative class action Friday claiming it lured them into a credit card balance transfer program by promising savings, but instead socked them with inflated interest rates.

According to the suit, filed in the Northern District of California, Capital One Bank (USA) NA, a unit of Capital One Financial, advertised its balance transfer program as a “chance to save,” saying customers could pay off higher-interest loans using their Capital One credit cards in exchange for a small...
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