A federal watchdog has sued Capital One. The watchdog has accused the major bank of fraud, thus cheating customers out of billions. The Consumer Financial Protection Bureau (CFPB) filed a complaint on Tuesday highlighting Capital One’s questionable handlings of its 360 Savings accounts.

A U.S. watchdog is suing Capital One for allegedly misleading consumers about its offerings for high-interest savings accounts — and "cheating" customers out of more than $2 billion in lost interest payments as a result.

The U.S. Consumer Financial Protection Bureau is suing Capital One, claiming the company cheated customers out of $2 billion by misleading them.