Hagens Berman LLP Announces Class-Action Lawsuit against Capital One

Hagens Berman today announced that it has filed a lawsuit alleging Capital One COF misrepresented its “transfer balance” program, resulting in higher-than-expected interest rates for consumers. The case, filed June 9, 2011, in the United States District Court for the Eastern District of Michigan, alleges that Capital One deceived cardholders by claiming that a cash advance obtained through the company's transfer balance program would include a 0 percent Annual Percentage Rate for one year. The company also allegedly promised that credit balances on regular monthly purchases would incur no interest as long as the balance was paid within 25 days.