Consumer complaint received 2023-02-26
Company: CAPITAL ONE FINANCIAL CORPORATION
State: CA
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:
On XX/XX/XXXX, I learned that Capital One closed my consumer credit account without written notification. I called Capital One and learned from Customer Service Representative " XXXX '' that my account was closed because of " returned payments ''. Account Supervisor " XXXX '' confirmed that the reason for the closing of my account was due to " returned payments ''. However, my account status is " PAID/NEVER LATE '' with a credit rating of " EXCELLENT '' across all 3 credit reporting agencies per the information furnished/sold/shared to them by Capital One. However, the closing of my account is in violation of Regulation Z of TILA, specifically section 1026.5 ( a ) ( 2 ) ( ii ) ( A ) which states in part that Credit card accounts under an open-end a card issuer must adopt reasonable procedures designed to ensure that ( 2 ) The card issuer does not treat as late for any purpose a required minimum periodic payment received by the card issuer within 21 days after mailing or delivery of the periodic statement disclosing the due date for that payment. As such, regardless of a returned payment, my payments were never late. Additionally, Capital One failed to properly disclose the terms of the application and their subsequent conditions because according to Capital One 's own Terms and Conditions, under the heading " RETURNED PAYMENTS '' it fails to disclose that a consumer credit account may be closed, even though the account has never received a late payment, if a returned payment has been been received. Capital One has also violated Title 12 by committing language fraud, among other frauds, through their disclosures which omits the specific language that an account may be closed for returned payments although an account may be in " good/excellent/never late '' status. Capital One 's CEO, CFO and their Trustee have also violated my rights according to 31 CFR 328.5 and 31 CFR 328.6 by not fulfilling their obligation according to the Securities Exchange Act and Trust Indenture Act upon receipt of my endorsed securities. Capital One is also in violation of 15 USC 1666c as they refused to fulfill their obligation of the law when they sent me a statement with a credit balance of {$1.00} or more and failed to apply those credits to my account although I sent them several written directions, according to 15 USC 1666c and the Federal Reserve Act section 16 & section 29. Thus Capital One failed to perform. 
On or about XX/XX/XXXX ; XX/XX/XXXX ; and XX/XX/XXXX ; I sent via certified mail with USPS, billing error disputes according to Capital One 's Terms and Conditions and according to my rights as a consumer in 15 USC 1666. Yet, Capital One 's CEO, CFO, and Legal Department, have not fulfilled their obligations according to the laws detailed in 12 CFR 1026. Capital One has further violated my rights by taking an adverse action against me contrary to TILA and FCRA rules and laws by closing my consumer credit account. Capital One has also violated UDAAP. Capital One is also in violation of the California DCPI, and other California Consumer Protection Rules and Regulations. Capital One has caused me emotional, mental, and financial stress and dealt with my account treacherously and unfairly. Capital One has violated 15 USC 1681-n by willfully and negligently refusing to comply with the laws, rules, and reporting the closing my account to XXXX, XXXX, and XXXX which is in violation of 15 USC 1681 which states in part that furnishers of credit reports are NOT to report the EXPERIENCES or TRANSACTION HISTORY of consumers.

Company response to consumer: Closed with explanation