Consumer complaint received 2023-08-15
Company: CAPITAL ONE FINANCIAL CORPORATION
State: DE
Product: Credit reporting, credit repair services, or other personal consumer reports
Sub-product: Credit reporting
Issue: Problem with a credit reporting company's investigation into an existing problem
Sub-issue: Their investigation did not fix an error on your report

Complaint:
Capital Auto One Finance continues to illegally furnish inaccurate and incorrect information to the consumer reporting agencies. The reporting of incorrect and inaccurate information has caused damage to my character, my status, and general mode of living. Obstructing the ability to obtain credit for personal and household commitments.

The reporting has caused damage to my livelihood.

According to, 15 U.S. Code 1681s2 - Responsibilities of furnishers of information to consumer reporting agencies ( a ) DUTY OF FURNISHERS OF INFORMATION TO PROVIDE ACCURATE INFORMATION ( 1 ) Prohibition ( A ) Reporting information with actual knowledge of errors A person shall not furnish any information relating to a consumer to any consumer reporting agencies if the person knows or has reasonable cause to believe that the information is inaccurate. 
Capital Auto One Finance was questioned of the billing error for additional fees with no explanation prior to XX/XX/2023. For Capital Auto One Finance to report inaccurate and prohibited information to the credit reporting agencies without notifying me. 
Therefore, remove the late payment dated XX/XX/2023 to XXXX, XXXX, and XXXX. 

Under the The Fair Credit Billing Act ( XXXX ) an amendment to the Truth in Lending Act ( TILA ) and protects consumers from unfair billing practices. Capital Auto One Finance is failing to notify me the appropriate disclosures and statements prior to 21 days.

15 U.S. Code 1637 Open End Consumer Credit Plans 15 U.S. Code 1637 ( a ) : ( a ) Required disclosures by creditor Before opening any account under an open end consumer credit plan, the creditor shall disclose to the person to whom credit is to be extended each of the following items, to the extent applicable : ( 1 ) The conditions under which a finance charge may be imposed, including the time period ( if any ) within which any credit extended may be repaid without incurring a finance charge, except that the creditor may, at his election and without disclosure, impose no such finance charge if payment is received after the termination of such time period. If no such time period is provided, the creditor shall disclose such fact.

( 2 ) The method of determining the balance upon which a finance charge will be imposed.

( 3 ) The method of determining the amount of the finance charge, including any minimum or fixed amount imposed as a finance charge.

( 4 ) Where one or more periodic rates may be used to compute the finance charge, each such rate, the range of balances to which it is applicable, and the corresponding nominal annual percentage rate determined by multiplying the periodic rate by the number of periods in a year.

( 5 ) Identification of other charges which may be imposed as part of the plan, and their method of computation, in accordance with regulations of the Bureau.

Lastly, according to 15 U.S.C. 1681a ( d ) Specifically, the term consumer report does not include : 1. A report containing information solely as to transactions or experiences between the consumer and the person making the report.

Capital Auto One Finance has been furnishing transactional experiences between the consumer and Capital Auto One Finance to CRA " Credit Reporting Agencies '' The FCRA too explains 603 - 15 U.S.C. 1681a ( p ) The term consumer reporting agency that compiles and maintains files on consumers on a nationwide basis means a consumer reporting agency that regularly engages in the practice of assembling or evaluating, and maintaining, for the purpose of furnishing consumer reports to third parties bearing on a consumers credit worthiness, credit standing, or credit capacity, each of the following regarding consumers residing nationwide : ( 1 ) Public record information.

( 2 ) Credit account information from persons who furnish that information regularly and in the ordinary course of business. '' Lastly, the timing of payments continues to be within a 15 day time frame from the due date. It is not sent out 21 days before the due date.

15 U.S. Code 1666b-Timing of Payments ( a ) Time to make payments A creditor may not treat a payment on a credit card account under an open end consumer credit plan as late for any purpose, unless the creditor has adopted reasonable procedures designed to ensure that each periodic statement including the information required by section 1637 ( b ) of this title is mailed or delivered to the consumer not later than 21 days before the payment due date.

Capital Auto One Finance is failing to notify me the appropriate disclosures. The documents that were sent over are reflects a balance of {$710.00} dated 07/05/2023 which is not 21 days before the due date. Then another statement and it reflects a total of {$690.00} past due, plus additional fees {$370.00} and including the current payment of {$340.00}. Where, I have continued to question where is the itemization of the account to know how billing is occurring. Capital Auto One Finance has failed with delivering the timing of billing statements. Until, corrected or credited under Federal Law the consumers right to withhold disputed amount ; collection action prohibited. The consumer need not pay ( and the creditor may not try to collect ) any portion of any required payment that the consumer believes is related to the disputed amount ( including related finance or other charges ).

Company response to consumer: Closed with explanation