NEW YORK, Jan 12 (Reuters) - A federal judge granted preliminary approval on Monday ‌to Capital One's ​revised $425 million class action ‍settlement with depositors ⁠who ⁠said they were cheated out ‌of ​high interest rates, two months after ⁠rejecting an ‍earlier ​accord, New York Attorney General Letitia James said.

U.S. ‍District Judge David Novak in Alexandria, Virginia, ruled after Capital One ​agreed ‍to pay higher interest rates going ​forward to depositors with 360 Savings accounts, a benefit worth about $530 million according to the ​depositors' lawyers.