As part of an ongoing effort to combat “junk fees” charged by banking institutions, the Consumer Financial Protection Bureau (CFPB) has issued a ruling that could save American consumers up to $5 billion per year—that’s approximately $200 per household.

US-based bank Capital One is facing legal proceedings from the US Consumer Financial Protection Bureau (CFPB) for ‘cheating’ consumers of more than $2bn in interest payments on savings accounts. The lawsuit said the bank allegedly misled holders of its “360 Savings” account,

The Consumer Financial Protection Bureau is accusing the bank of illegally misleading millions of customers about its savings accounts.