Capital One agreed to pay a $425 million settlement after it faced nationwide litigation accusing it of cheating savings depositors out of higher interest rates by failing to advertise higher-yield accounts, according to a federal court filing.

The preliminary settlement, which is pending a judge’s approval, was filed in a notice Friday in the U.S. District Court for the Eastern District of Virginia.

Depositors who sued the bank said that Capital One falsely promised higher interest rates on 360 Savings accounts, which had a fixed rate of 0.3%, and did not adequately advertise its better rates on 360 Performance Savings accounts.

As a part of the settlement, $300 million will go to depositors to make up for the interest they would have earned in the higher-yield account.

The remainder of the settlement will go to depositors with open 360 Savings accounts as additional interest. As a part of the agreement, Capital One admitted no wrongdoing.

— The New York Times