Consumer complaint received 2023-09-26
Company: CAPITAL ONE FINANCIAL CORPORATION
State: TX
Product: Credit reporting or other personal consumer reports
Sub-product: Credit reporting
Issue: Improper use of your report
Sub-issue: Reporting company used your report improperly

Complaint:
lodge a formal and emphatic complaint against Capital One, a financial institution, for multiple and egregious violations of the Fair Credit Reporting Act ( FCRA ), 15 USC 1681, as well as the Privacy Act of 1974, 5 USC 552a, along with additional pertinent statutory and regulatory provisions. This complaint revolves around Capital One 's flagrant transaction reporting violations, their utter disregard for consumer privacy, and their alarming failure to respect consumer rights. 

The Fair Credit Reporting Act, 15 USC 1681 section 602 ( a ), unequivocally underscores the paramount need for consumer reporting agencies to execute their responsibilities with unwavering fairness, absolute impartiality, and an unyielding respect for consumers ' sacrosanct right to privacy. A parallel obligation is firmly enshrined in 15 USC 6801, articulating that every financial institution, including Capital One, has an unwavering, ongoing duty to zealously safeguard customer privacy and to preserve the security and confidentiality of nonpublic personal information. 

My complaint, however, exposes Capital One 's audacious and persistent transaction reporting violations, gratuitous inquiries into personal accounts, and their egregious failure to uphold the fundamental principles of consumer privacy. As per the mandate of 15 USC 1681 section 604 ( a ) ( 2 ), consumer reporting agencies may, and I emphasize may, furnish a consumer report solely " in accordance with the written instructions of the consumer to whom it relates. '' Neither Capital One, the financial institution itself, nor the ostensible guardians of consumer data, XXXX, XXXX, and XXXX, sought my consent, let alone the written consent mandated by federal law, to disseminate my personal financial information. I hereby and resolutely revoke any and all consent, regardless of its form, whether verbal, non-verbal, written, implied, or conveyed through any other means, that has been extended to XXXX, XXXX, XXXX, and Capital One. 

Furthermore, Capital One 's conspicuous and deliberate omission to apprise me of my basic right to exercise my nondisclosure option, as stipulated by 15 USC 6802 ( b ) ( c ), is a glaring affront to the very principles of transparency and consumer empowerment that federal law purports to uphold. This omission represents a blatant violation of federal regulations. Notably, 15 USC 1681C ( a ) ( 5 ) leaves no room for ambiguity, explicitly decreeing that no consumer reporting agency may compile a consumer report containing adverse information without proper and unequivocal authorization. Capital One 's reckless reporting of adverse information without my explicit and uncoerced consent amounts to a clear and unambiguous violation of federal law. 

Additionally, 15 U.S. Code 1681s2 ( A ) ( 1 ) ( A ) underscores that a person shall not, under any circumstances, furnish information to a consumer reporting agency if they know or have reasonable cause to believe that the information in question is inaccurate. Capital One has not only furnished inaccurate information, but they have done so with a shocking degree of indifference to the potential harm and financial consequences that this inaccurate information can wreak upon consumers. 

Furthermore, XXXX, XXXX, and XXXX, the supposed guardians of consumer data, have displayed a wanton disregard for the very concept of reasonable procedures, as required by 15 U.S. Code 1681e. These agencies have consistently reported inaccurate, incomplete, and inconsistent information, causing not only financial harm but also confusion and undue distress among consumers. 

In light of these severe and unambiguous violations, I demand, in no uncertain terms, that the Consumer Financial Protection Bureau conducts an immediate and exhaustive investigation into the actions of Capital One. This investigation should encompass all aspects of Capital One 's operations, focusing particularly on their rampant transaction reporting violations, their systematic infringements on consumer privacy, and their blatant disregard for consumer rights. I further insist that the Bureau takes the necessary and appropriate actions to rectify these grave infringements and that Capital One be held fully accountable for their failure to adhere to statutory and regulatory requirements. 

A swift and comprehensive review of this matter is expected, and I insist that you keep me apprised of the progress of your investigation. Timely and decisive action is paramount in this case, so any sensitive details such as account information, numbers, and dates, I will be more than happy to provide.

Company response to consumer: Closed with explanation