The Consumer Financial Protection Bureau is suing Capital One for allegedly misleading customers about its high-yield savings account options and cheating them out of close to $2 billion in interest.

The bank misled its customers after promising a new savings account with a higher interest rate not already provided to existing accounts, regulators said.

The government’s consumer watchdog sued Capital One on Tuesday for “cheating” customers out of billions in interest payments. The Consumer Financial Protection Bureau (CFPB) accused the banking giant of freezing interest rates for its 360 Savings account at low levels as rates rose,