Consumer complaint received 2022-01-07
Company: CAPITAL ONE FINANCIAL CORPORATION
State: TN
Product: Credit card or prepaid card
Sub-product: General-purpose credit card or charge card
Issue: Closing your account
Sub-issue: Company closed your account

Complaint:
I am a natural person and a federally protected consumer pursuant to 15 U.S.Code 1692a ( 3 ). On XX/XX/2021, CAPITAL ONE closed my open end consumer credit plans without prior notice and without my consent. I am aware that when applying for a charge card a application, risk score or income is not required according to federal law title 15 U.S.Code 1637. CAPITAL ONE has violated federal law by not providing a statement of reasons for the adverse action that was made by closing the accounts pursuant to the ECOA 15 U.S.Code 1691 ( d ). CAPITAL ONE has no authority to close my open end consumer credit plans. 

I am aware that in pursuant to 15 U.S.Code 1602 ( f ), The term credit means the right granted by a creditor to a debtor to defer payment of debt or to incur debt and defer its payment. In pursuant to 15 U.S.Code 1692a ( 4 ), The term creditor means any person who offers or extends credit creating a debt or to whom a debt is owed. I extended the credit which makes me the original creditor.

In accordance with 15 U.S.Code 1602 ( j ), The terms open end credit plan and open end consumer credit plan mean a plan under which the creditor reasonably contemplates repeated transactions, which prescribes the terms of such transactions, and which provides for a finance charge which may be computed from time to time on the outstanding unpaid balance. A credit plan or open end consumer credit plan which is an open end credit plan or open end consumer credit plan within the meaning of the preceding sentence is an open end credit plan or open end consumer credit plan even if credit information is verified from time to time. Pursuant to 15 U.S.Code 1602 ( l ), ( l ) The term credit card means any card, plate, coupon book or other credit device existing for the purpose of obtaining money, property, labor, or services on credit. 

In pursuant to 15 U.S.Code 1666d, Whenever a credit balance in excess of {$1.00} is created in connection with a consumer credit transaction through ( 1 ) transmittal of funds to a creditor in excess of the total balance due on an account, ( 2 ) rebates of unearned finance charges or insurance premiums, or ( 3 ) amounts otherwise owed to or held for the benefit of an obligor, the creditor shall ( A ) credit the amount of the credit balance to the consumers account ; ( B ) refund any part of the amount of the remaining credit balance, upon request of the consumer ; and ( C ) make a good faith effort to refund to the consumer by cash, check, or money order any part of the amount of the credit balance remaining in the account for more than six months, except that no further action is required in any case in which the consumers current location is not known by the creditor and can not be traced through the consumers last known address or telephone number. 

In pursuant TILA title 15 U.S.Code 1615, ( a ) Prompt refund of unearned interest required ( 1 ) In general, If a consumer prepays in full the financed amount under any consumer credit transaction, the creditor shall promptly refund any unearned portion of the interest charge to the consumer. In pursuant to 15 U.S.C 1692h, with my written direction I demand CAPITAL ONE to redirect ALL payments to me by check and removal of the fraudulent items from my consumer report.

Company response to consumer: Closed with explanation