Consumer complaint received 2023-04-27
Company: CAPITAL ONE FINANCIAL CORPORATION
State: CA
Product: Vehicle loan or lease
Sub-product: Loan
Issue: Getting a loan or lease
Sub-issue: Fraudulent loan

Complaint:
I expressed my intention to acquire an automobile via a consumer credit transaction to both Capital One Auto Finance and XXXX XXXX XXXX XXXX XXXX, both verbally and in writing at the beginning of and throughout the process. I was blocked and didnt know any other way to accomplish the goal of completing the transaction. Both the bank and the dealership knowingly violated the Truth in Lending Act by using discriminatory practices, violating " informed use '' practices, misleading, threatening, and harassment. 

When I began the process, I was not aware of a lot of the information that I learned along the way. I knew according to XXXX XXXX XXXX, I was not obligated to pay a down payment. I also knew that I was the original creditor and could not be denied an extension of my own credit. I originally applied for a new XXXX XXXX XXXX XXXX. 

Capital One approved my application, but according to the dealership the bank would only process it if I put down a {$51000.00} down payment. I spoke to the bank who confirmed that they did not impose the down payment. I tried to invoke 15 USC 1605 through written correspondence ( see attachment ), but the dealership still would not budge. I was blocked from moving forward with that particular automobile because I would not agree to the down payment. 

The dealership agreed to work out another deal that would not involve a down payment for a different automobile. I finally settled for a XXXX XXXX XXXX on XX/XX/XXXX. When it was time to sign the contract, I was told that I had to hurry because the document would time out and the dealership had three other people waiting for me to finish so they could sign their documents. The dealership also told me not to use consumer at the end of my autograph, but I did not comply. Additionally, I was denied the opportunity to read the agreement as I was signing. Needless to say, no one explained the contract or made sure that adequate notice was given. After all of that, I took possession of the XXXX. 

After that, the bank wanted additional information and forced the dealership to ask for more of my financials. I did not understand that there were other options to secure the funding for the transaction, or I would have been able to compare the various options and avoid the uninformed use of credit from the beginning. In the absence of more options, I submitted my information. 

The bank had an issue with my address. Because my property does not yet have an address, I use a mailbox for all intents and purposes. But the bank demanded that I send them some form of proof of address. I sent what I could. I had the IRS send documents addressed to me to an address that I was temporarily staying at. I used that to provide proof of address. I also made the dealership aware of the Non-Disclosure Agreement that exist in a contract with the Trust, and that I was limited on what I could share to avoid violating the NDA. Additionally, because it was a temporary address that I dont use because I have my own, I only had limited documents to send. 

Despite that fact, the bank would not accept what I was able to send and continued to harass me for more information that was not pertinent to the approval of my transaction. The bank continued to pressure the dealership who in turn applied that pressure to me to furnish documentation by threatening the loss of funding. Finally, when I was pushed well beyond the boundaries of my comfort level, I studied more and sent the bank a XXXX XXXXXXXX ( see attachment ) with stronger and new evidence of my rights and how they were violating them. 

After reading the Affidavit of XXXX XXXX XXXX, I better understood the nature of the United States Banking XXXX in relation and construction to the United States Code. The people who back the pledge for the full faith and CREDIT of the United States deserve what is rightfully ours, especially when we invoke what is right, XXXX, fair, and in good faith. 

The Conditional Acceptance was received by a bank representative on XX/XX/XXXX at XXXX pm per the United States Postal Service XXXX Mail Number. Previously, the same documents were uploaded to their platform via an emailed link on Monday, XX/XX/XXXX. The link was sent by the bank to upload address documents to release the hold for funding. I sent the Conditional XXXX instead. The following Friday, XX/XX/XXXX, the deal was funded. 

As I searched for concrete content for the XXXX  XXXX, I found and included the definitions of evidence of indebtedness and adequate notice putting them on notice that any dispute would need to include evidence of where the debt originated. I know that I am the original creditor. The bank then sent or caused to be sent a XXXX XXXX XXXX dated XX/XX/XXXX stating the following disclosure : " To the extent that you have filed for protection under federal bankruptcy law, you XXXX not be personally liable for the unpaid balance of this loan. This statement is not an attempt to collect a debt and is being provided for informational purposes ONLY. '' Further, as described in the XXXX XXXX mentioned above and the Affidavit sent with it, the bank never delivered or caused to be delivered any money/credits of its own to the consumer. Instead, the bank accessed the consumer 's credit and used it to fund the request. Therefore, there is nothing for the consumer to " pay back ''. 

Capital One sent a Validation of Debt letter ( although they technically can not validate the debt ) on XX/XX/XXXX, which did not include information regarding the original creditor and stated that I am still obligated to make payments to Capital One. Also, it was not signed by an authorized representative as called out in the XXXX XXXX. It did not satisfy the requirements set forth in the United States Code to be properly considered a debt validation. 

Below are a few of the violations that occurred. I believe more rights were violated. Please advise of the ones that are not listed here. Also, see the XXXX XXXX attached. 


15 USC 1691 ( a ) Activities constituting discrimination It shall be unlawful for any creditor to discriminate against any applicant, with respect to any aspect of a credit transaction 15 USC 1601 ( a ) Informed use of credit The XXXX finds that economic stabilization would be enhanced and the competition among the various financial institutions and other firms engaged in the extension of consumer credit would be strengthened by the informed use of credit. The informed use of credit results from an awareness of the cost thereof by consumers. It is the purpose of this subchapter to assure a meaningful disclosure of credit terms so that the consumer will be able to compare more readily the various credit terms available to him and avoid the uninformed use of credit, and to protect the consumer against inaccurate and unfair credit billing and credit card practices. 

15 USC 1692g ( a ) Notice of debt ; contents Within five days after the initial communication with a consumer in connection with the collection of any debt, a debt collector shall, unless the following information is contained in the initial communication or the consumer has paid the debt, send the consumer a written notice containing ( 4 ) a statement that if the consumer notifies the debt collector in writing within the thirty-day period that the debt, or any portion thereof, is disputed, the debt collector will obtain verification of the debt or a copy of a judgment against the consumer and a copy of such verification or judgment will be mailed to the consumer by the debt collector ; and ( 5 ) a statement that, upon the consumers written request within the thirty-day period, the debt collector will provide the consumer with the name and address of the original creditor, if different from the current creditor.

15 USC 1692g ( b ) Disputed debts If the consumer notifies the debt collector in writing within the thirty-day period described in subsection ( a ) that the debt, or any portion thereof, is disputed, or that the consumer requests the name and address of the original creditor, the debt collector shall cease collection of the debt, or any disputed portion thereof, until the debt collector obtains verification of the debt or a copy of a judgment, or the name and address of the original creditor, and a copy of such verification or judgment, or name and address of the original creditor, is mailed to the consumer by the debt collector. Collection activities and communications that do not otherwise violate this subchapter may continue during the 30-day period referred to in subsection ( a ) unless the consumer has notified the debt collector in writing that the debt, or any portion of the debt, is disputed or that the consumer requests the name and address of the original creditor. Any collection activities and communication during the 30-day period may not overshadow or be inconsistent with the disclosure of the consumers right to dispute the debt or request the name and address of the original creditor.

15 USC 1602 ( k ) The term adequate notice, as used in section 1643 of this title, means a printed notice to a cardholder which sets forth the pertinent facts clearly and conspicuously so that a person against whom it is to operate could reasonably be expected to have noticed it and understood its meaning.

Company response to consumer: Closed with explanation