Faruqi and Faruqui, LLP Logo
Share this page

Capital One Financial Corp. (COF)



Faruqi & Faruqi, LLP is Investigating Capital One Financial Corp., on Behalf of its Shareholders - COF

Faruqi & Faruqi, LLP, a national law firm concentrating on investor rights, consumer rights and the enforcement of federal antitrust laws, is investigating potential wrongdoing at Capital One Financial Corp. (“Capital One” or the “Company”) (NYSE: COF).  The investigation focuses on possible breaches of fiduciary duties by the Board of Directors and/or officers of the Company in connection with the improper marketing and implementation of payment protection plans and other fee-based services. 

Specifically, the investigation concerns monetary damages and reputational harm suffered by the Company due to its directors and/or officers: (1) causing the Company to engage in fraudulent and illegal marketing practices in connection with its payment protection programs; (2) failing to maintain adequate internal controls over the Company’s marketing and sales of fee-based financial products, including payment protection programs; and (3) falsely certifying to regulators that the Company had adequate internal controls sufficient to oversee the Company’s compliance with all applicable legal and regulatory requirements.

As part of a recent settlement with the Consumer Financial Protection Bureau (“CFPB”), Capital One has been ordered to pay $210 million to settle allegations it misled credit card customers into buying unwanted “add-on” products such as payment protection and credit monitoring.  The Capital One credit card product settlement was the first public enforcement case brought by CFPB, established by the Dodd-Frank Act to increase oversight of consumer financial products. 

The CFPB stated that Capital One customers were wrongly led to believe by call center workers that they needed to buy add-on services to activate their cards and that debt protection and credit monitoring were free services. Other customers were left with the impression that their credit scores would improve with the purchase, while some got billed even though they were not eligible.  The bulk of the settlement will go to consumers, with $60 million going toward penalties, $25 million to the CFPB, and $35 million to the Office of the Comptroller of the Currency.

If you currently hold Capital One shares and you would like to discuss your legal rights, contact us by calling Michael J. Hynes, Esq.  toll free at 877-247-4292 or at 215-277-5770 or by sending an e-mail to mhynes@faruqilaw.com.

Request Information

Please tell us about yourself by completing the form below and we will provide you with additional
information on how to join the Action.

  • Company:
    Capital One Financial Corp. (COF)

* The submission of this form does not create an attorney-client relationship.

Contact Counsel

Faruqi & Faruqi, LLP
1617 JFK Boulevard, Suite 1550
Philadelphia, PA 19103
Tel: (215) 277-5770


Send Information

If you have information regarding this case that you would like to make available, please click here to contact us about our investigation.