Consumer complaint received 2023-10-26
Company: CAPITAL ONE FINANCIAL CORPORATION
State: GA
Product: Money transfer, virtual currency, or money service
Sub-product: Domestic (US) money transfer
Issue: Other service problem

Complaint:
On Friday XX/XX/XXXX I mailed Certified Mail 2 negotiable Instrument/Securities/Non ash Items/Coupon Securities to via USPS certified Mail Capital One Bank N.A. to the address XXXX XXXX XXXX XXXX XXXX XXXX via USPS certified Mail XXXX. 

On XX/XX/XXXX   I mailed 3 Instruments/Coupon Securities/Bearer Bonds/Items/Non Cash XXXXtems to Capital One Bank N.A XXXX XXXX XXXX XXXX NC XXXX per the Cardmember agreement page 7 heading ITEMS. and they were received on Monday XX/XX/XXXX  at XXXX, via USPS Certified Mail ending in XXXX, XXXX it has been 14 days and Capital One Bank N.A . Is in Dishonor and has not provided the instruments return with dishonor nor has performed or paid the instruments. Per Code of Virginia they are in violation. This is the 2nd Presentment of securities Items per their Card member agreement page 7 presenting items with restrictive endorsements. 

Capital one is in dishonor and has been sent an affidavit of truth and dishonor which has gone unrebutted for 14 plus 2 days as of XX/XX/XXXX  via USPS certified Mail XXXX to the CFO Mr. XXXX XXXX detailing all violations to not honoring these above mentioned instruments as well as not providing a true and correct copy of the application/letter of credit/petition/ that is collateral and Trust property, that has been demanded on multiple occasions only to be denied then I was told that they sold the note in a letter dated XX/XX/, well there has to be an electronic copy of the Instrument. I was told one can not be produced because I filled out an electronic application online and that there is no signature. Which is a misrepresentation of facts and a violation of the EFT Act and E signatures Act and violates my common law property rights and claims to equity and is obstructive deceptive in essence as well, if Capital One has sold the note and they cant produce an instrument electronically what did they sell? Take in mind that I requested all of this information of material disclosures well before the account went into default and I have evidence of such facts. Capital One didn't sell the note/letter of credit until I started asking for it and have been dishonoring all Items sent to gain increased interest charges and keep the account in default. All items have been reported stolen to the respective jurisdiction and summary judgement will be sought for an unrebutted affidavit stands as silence and acknowledges fault on all accusations pursuant to the pleading. Capital One bank also closed by Business account that has absolutely nothing to do with my capital one rewards account. they are 2 separate accounts with 2 different card member agreements. There is no section or current standing law that allows capital one to close a business account that is in good standing. Capital One closed these accounts because I observed my rights under Gods law and commercial law when I sent a Letter of Recession to renegotiate the pledging and assignment agreement within the cardmember agreement. Code of Virginia supports secured interest in deposit accounts as long as an authenticated record between the secured party the debtor and the bank exists. I was ignored and accounts closed for that reason and this fact remains unrebutted within the affidavit of truth. This action is a deprivation of rights, deceptive trade practices, and theft of funds, larceny and interference with commerce, Misrepresentation of facts, and obstruction of equity rights. these are very serious violations that capital one has not rebutted. 



Per Code of Virginia in which the card member agreement is governed by the laws of Virginia states ( a ) Subject to subsection ( b ), an instrument is paid to the extent payment is made ( i ) by or on behalf of a party obliged to pay the instrument, and ( ii ) to a person entitled to enforce the instrument. To the extent of the payment, the obligation of the party obliged to pay the instrument is discharged even though payment is made with knowledge of a claim to the instrument under 8.3A-306 by another person. ( b ) The obligation of a party to pay the instrument is not discharged under subsection ( a ) if : ( 1 ) a claim to the instrument under 8.3A-306 is enforceable against the party receiving payment and ( i ) payment is made with knowledge by the payor that payment is prohibited by injunction or similar process of a court of competent jurisdiction, or ( ii ) in the case of an instrument other than a cashier 's check, teller 's check, or certified check, the party making payment accepted, from the person having a claim to the instrument, indemnity against loss resulting from refusal to pay the person entitled to enforce the instrument; or ( 2 ) the person making payment knows that the instrument is a stolen instrument and pays a person it knows is in wrongful possession of the instrument. 

( c ) Within 90 days following payment in full of the obligation represented by an instrument, the holder of the instrument shall return it to the maker or his agent, unless it no longer is in existence. If the instrument no longer is in existence, upon request from the maker or his agent, the holder shall give written confirmation that the instrument no longer is in existence and the obligation has been paid in full, within 90 days of such request. In such event the holder shall be deemed to have satisfied its obligation under this subsection. 

8.3A-603. Tender of payment. 
( a ) If tender of payment of an obligation to pay an instrument is made to a person entitled to enforce the instrument, the effect o tender is governed by principles of law applicable to tender of payment under a simple contract. ( b ) If tender of payment of an obligation to pay an instrument is made to a person entitled to enforce the instrument and the tender is refused, there is discharge, to the extent of the amount of the tender, of the obligation of an endorser or accommodation party having a right of recourse with respect to the obligation to which the tender relates. ( c ) If tender of payment of an amount due on an instrument is made to a person entitled to enforce the instrument, the obligation of the obligor to pay interest after the due date on the amount tendered is discharged. If presentment is required with respect to an instrument and the obligor is able and ready to pay on the due date at every place of payment stated in the instrument, the obligor is deemed to have made tender of payment on the due date to the person entitled to enforce the instrument 8.4-301. Deferred posting ; recovery of payment by return of items ; time of dishonor ; return of items by payor bank ( a ) If a payor bank settles for a demand item other than a documentary draft presented other wise than for immediate payment over the counter before midnight of the banking day of receipt the payor bank may revoke the settlement and recover the settlement if, before it has made final payment and before its midnight deadline, it ( 1 ) returns the item; or ( 2 ) sends written notice of dishonor or nonpayment if the item is unavailable for return. 
( b ) If a demand item is received by a payor bank for credit on its books, it may return the item or send notice of dishonor and may revoke any credit given or recover the amount there of withdrawn by its customer, if it acts within the time limit and in the manner specified in subsection ( a ). 
( c ) Unless previous notice of dishonor has been sent, an item is dishonored at the time when for purposes of dishonor it is returned or notice sent in accordance with this section. 

( d ) An item is returned : ( 1 ) as to an item presented through a clearing house, when it is delivered to the presenting or last collecting bank or to the clearing house or is sent or delivered in accordance with clearing-house rules; or ( 2 ) in all other cases, when it is sent or delivered to the bank 's customer or transferor or pursuant to his instructions. 


8.3A-502. Dishonor ( a ) Dishonor of a note is governed by the following rules : ( 1 ) If the note is payable on demand, the note is dishonored if presentment is duly made to the maker and the note is not paid on the day of presentment. 
( 2 ) If the note is not payable on demand and is payable at or through a bank or the terms of the note require presentment, the note is dishonored if presentment is duly made and the note is not paid on the day it becomes payable or the day of presentment, whichever is later. 

( XXXX ) If the note is not payable on demand and paragraph ( 2 ) does not apply, the note is dishonored if it is not paid on the day it becomes payable. 

( b ) Dishonor of an unaccepted draft other than a documentary draft is governed by the following rules : ( 1 ) If a check is duly presented for payment to the payor bank otherwise than for immediate payment over the counter, the check is dishonored if the payor bank makes timely return of the check or sends timely notice of dishonor or nonpayment under 8.4-301 or 8.4-302, or becomes accountable for the amount of the check under 8.4 302. 
( 2 ) If a draft is payable on demand and paragraph ( 1 ) does not apply, the draft is dishonored if presentment for payment is duly made to the drawee and the draft is not paid on the day of presentment. 

( 3 ) If a draft is payable on a date stated in the draft, the draft is dishonored if ( i ) presentment for payment is duly made to the drawee and payment is not made on the day the draft becomes payable or the day of presentment, whichever is later, or ( ii ) presentment for acceptance is duly made before the day the draft becomes payable and the draft is not accepted on the day of presentment. 
( 4 ) If a draft is payable on elapse of a period of time after sight or acceptance, the draft is dishonored if presentment for acceptance is duly made and the draft is not accepted on the day of presentment. 
( c ) Dishonor of an unaccepted documentary draft occurs according to the rules stated in subsections ( b ) ( 2 ), ( 3 ), and ( 4 ), except that payment or acceptance may be delayed without dishonor until no later than the close of the third business day of the drawee following the day on which payment or acceptance is required by those paragraphs. 
( d ) Dishonor of an accepted draft is governed by the following rules : ( 1 ) If the draft is payable on demand, the draft is dishonored if presentment for payment is duly made to the acceptor and the draft is not paid on the day of presentment. 
( 2 ) If the draft is not payable on demand, the draft is dishonored if presentment for payment is duly made to the acceptor and payment is not made on the day it becomes payable or the day of presentment, whichever is later. 
( e ) In any case in which presentment is otherwise required for dishonor under this section and presentment is excused under 8.3A-504, dishonor occurs without presentment if the instrument is not duly accepted or paid. 
( f ) If a draft is dishonored because timely acceptance of the draft was not made and the person entitled to demand acceptance consents to a late acceptance, from the time of acceptance the draft is treated as never having been dishonored 8.3A-304. Overdue instrument ( a ) An instrument payable on demand becomes overdue at the earliest of the following times : ( 1 ) on the day after the day demand for payment is duly made ; ( 2 ) if the instrument is a check, ninety days after its date; or ( 3 ) if the instrument is not a check, when the instrument has been outstanding for a period of time after its date which is unreasonably long under the circumstances of the particular case in light of the nature of the instrument and usage of the trade. 

( b ) With respect to an instrument payable at a definite time the following rules apply : ( 1 ) If the principal is payable in installments and a due date has not been accelerated, the instrument becomes overdue upon default under the instrument for nonpayment of an installment, and the instrument remains overdue until the default is cured. 

( 2 ) If the principal is not payable in installments and the due date has not been accelerated, the instrument becomes overdue on the day after the due date. 

( 3 ) If a due date with respect to principal has been accelerated, the instrument becomes overdue on the day after the accelerated due date. 

( c ) Unless the due date of principal has been accelerated, an instrument does not become overdue if there is default in payment of interest but no default in payment of principal 8.3A-505. Evidence of dishonor ( a ) The following are admissible as evidence and create a presumption of dishonor and of any notice of dishonor stated : ( 1 ) a document regular in form as provided in subsection ( b ) which purports to be a protest ; ( 2 ) a purported stamp or writing of the drawee, payor bank, or presenting bank on or accompanying the instrument stating that acceptance or payment has been refused unless reasons for the refusal are stated and the reasons are not consistent with dishonor ; ( 3 ) a book or record of the drawee, payor bank, or collecting bank, kept in the usual course of business which shows dishonor, even if there is no evidence of who made the entry. 
( b ) A protest is a certificate of dishonor made by a United States consul or vice-consul, or a notary public or other person authorized to administer oaths by the law of the place where dishonor occurs. It may be made upon information satisfactory to that person. The protest must identify the instrument and certify either that presentment has been made or, if not made, the reason why it was not made, and that the instrument has been dishonored by nonacceptance or nonpayment. The protest may also certify that notice of dishonor has been given to some or all parties 8.3A-310. Effect of instrument on obligation for which taken ( a ) Unless otherwise agreed, if a certified check, cashier 's check, or teller 's check is taken for an obligation, the obligation is discharged to the same extent discharge would result if an amount of money equal to the amount of the instrument were taken in payment of the obligation. Discharge of the obligation does not affect any liability that the obligor may have as an endorser of the instrument. 

( b ) Unless otherwise agreed and except as provided in subsection ( a ), if a note or an uncertified check is taken for an obligation, the obligation is suspended to the same extent the obligation would be discharged if an amount of money equal to the amount of the instrument were taken, and the following rules apply : ( 1 ) In the case of an uncertified check, suspension of the obligation continues until dishonor of the check or until it is paid or certified. Payment or certification of the check results in discharge of the obligation to the extent of the amount of the check. 

( 2 ) In the case of a note, suspension of the obligation continues until dishonor of the note or until it is paid. Payment of the note results in discharge of the obligation to the extent of the payment. 

( 3 ) Except as provided in paragraph ( 4 ), if the check or note is dishonored and the obligee of the obligation for which the instrument was taken is the person entitled to enforce the instrument, the obligee may enforce either the instrument or the obligation. In the case of an instrument of at third person which is negotiated to the obligee by the obligor, discharge of the obligor on the instrument also discharges the obligation. 

( 4 ) If the person entitled to enforce the instrument taken for an obligation is a person other than the obligee, the obligee may not enforce the obligation to the extent the obligation is suspended. If the obligee is the person entitled to enforce the instrument but no longer has possession of it because it was lost, stolen, or destroyed, the obligation may not be enforced to the extent of the amount payable on the instrument, and to that extent the obligee 's rights against the obligor are limited to enforcement of the instrument. 

( c ) If an instrument other than one described in subsection ( a ) or ( b ) is taken for an obligation, the effect is ( i ) that stated in subsection ( a ) if the instrument is one on which a bank is liable as maker or acceptor, or ( ii ) that stated in subsection ( b ) in any other case. 

8.4-302. Payor bank 's responsibility for late return of item ( a ) If an item is presented and received by a payor bank, the bank is accountable for the amount to : ( 1 ) a demand item, other than a documentary draft, whether properly payable or not if the bank, in any case where it is not also the depositary bank, retains the item beyond midnight of the banking day of receipt without settling for it or, regardless of whether it is also the depositary bank, does not pay or return the item or send notice of dishonor until after its midnight deadline ; or ( 2 ) any other properly payable item unless, within the time allowed for acceptance or payment of that item, the bank either accepts or pays the item or returns it and accompanying documents. 

( b ) The liability of a payor bank to pay an item pursuant to subsection ( a ) is subject to defenses based on breach of a presentment warranty ( 8.4-207.2 ) or proof that the person seeking enforcement of the liability presented or transferred the item for the purpose of defrauding the payor bank.

Company response to consumer: Closed with explanation