Consumer complaint received 2021-02-04
Company: CAPITAL ONE FINANCIAL CORPORATION
State: MD
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:
I the original Creditor and federally protected consumer, experienced inadvertent errors with Capital one Bank that caused several transactions to be declined and return to my bank. I called in after each declined transaction to figure out what was going wrong, and an agent assisted me in setting up the account and processing a payment over the phone. 
I reviewed my statement to see the transaction was declined and returned to my bank. This issue was not for insufficient funds and I was informed to contact my bank. My bank informed me everything was clear on their end and couldn't explain why the transactions were being returned. 
I received a email stating that my account was being closed out for fraud and I should stop using the account, and I was still liable for any remaining balance. 

I called immediately to resolve the issue with no results other than this is the policy and we are sorry. 

Per the FDIC capital one is in violation of adverse actions : 100.2 definition adverse actions ( c ) ( i ) refusal to grant credit in the agreed amount ( ii ) termination of an account ( s ) inadvertent means mechanical, electronic or clerical errors, that was not intentional.

100.2 ( t ) judgmental system of evaluating applicants other than credit scoring 1002.4 General rules ( a ) discrimination.

A creditor shall not discriminate against applicant on prohibited basis regarding transactions of any aspect.

( b ) discouragement as I am now afraid to apply for another credit card as I was also denied further credit with Captial one during a new application in attempts to re-establish my account. I was not offered a counter offer 1002.2 ( i ) This incident has caused me high stress as I have bills that depend on my credit limit. I'm also anxious and worried as the threat of closing my account will cause a negative impact on my credit score. Per FTC Captial one Bank is in violation of : 15 USC 1692 Congressional findings and declaration of purpose ( a ) unfair practices resulting in bills falling behind and negative credit impact c ) Non-abusive Collections Method ( d ) interstate commerce 15 USC 1692b Acquisition Of Location Information ( 2 ) stating that I am responsible for the remaining balance ( debt ; ) 15 USC 1692d Harassment Or Abuse ( 1 ) causing harm to my reputation with possible future lenders.

15 USC 1692j Furnishing Deceptive Forms ( b ) Any person who violates this section shall be liable to the same extent and in the same manner as a debt collector is liable under section 1692k of this title for failure to comply with a pr
ovision of this subchapter.

15 USC 1692k civil liability ( 2 ) ( A ) in the case of any action by an individual, such additional damages as the court may allow, but not exceeding {$1000.00} ; or Let it be noted that : a credit extension is a private transaction between the creditor and THE ORIGINAL CREDITOR.

A creditor ( capital one ) is one who extends credit by definition of FTC and a Creditor ( capital one ) can not collect a debt.

Debt is defined by the FTC as an owed or allegedly owed debt by a consumer

Company response to consumer: Closed with explanation