Consumer complaint received 2021-09-20
Company: CAPITAL ONE FINANCIAL CORPORATION
State: TX
Product: Checking or savings account
Sub-product: Checking account
Issue: Closing an account
Sub-issue: Funds not received from closed account

Complaint:
On XXXX XXXX XXXX when i received a Government loan via SBA for sole proprietors ( PPP ) worth {$20000.00}. 


I have been having issues with my recipient bank account ( Capital one ) for a said loan that was credited to my personal checking account. Some part of this funds were place on hold as they claim they needed to do further investigations on my account activities. 

XX/XX/2021, I called back and was told my account has been frozen and no documents were requested of me to help their investigation. I have had different agents from capital one threaten me to go get a police report for them to get a statement released to me by their investigative units on why my account was closed. I eventually had to go to the police station, because I was curious to know what exactly they were basing their investigations on without requesting any form of documentation. Surprisingly, the police were equally confused as to what the bank was requesting of me, as they do not provide any service of such. 

Only to realise that I have been speaking with the wrong people as claimed by a capital one bank agents I eventually got through to, I was told the bank has decided to end their relationship with me, but the account was still active and funds dropping into it for several months that I couldnt access. 
Later someone else called me to mail my tax documents for the business to their fraud department XXXX, which I did. But didnt get a response or resolution from anyone afterwards. 

On the XXXX of XXXX, I received my child tax credit, and called them to get update on my account because I needed to get my kids funds that the govt paid into the account, as thats is where all my funds go into from IRS. I was told I cant access any funds until investigation is done. 

On XX/XX/2021 I discovered my bank account with all my funds ( {$9100.00} ) including the balance of my PPP loan were no longer available and account closed. I did not receive any notice to this regards, I called the bank and fraud number, everyone was cutting me off after keeping me on hold for at least 1hr. 

When I could finally get through to the bank, I was told my account has been closed and still under investigation. 
And my PPP loan balance will be returned to the lender ( XXXX XXXX XXXX  ) after which whatever is due to me will be mailed to my address. 

I was told to reach out to my lender, which I did, they said they do not have any activity regarding PPP loan and no funds is coming to them from any bank as they already concluded the program. 

Meanwhile, my loan forgiveness has been completely approved by my lender/SBA. But my bank insist I do not qualify for the loan or forgiveness ( with no reasons reasons ) .I have been humiliated by several agents over this issue. Some screaming at me like I stole from the bank, and not providing me with any valid information on my account. 

Since then till date, I have been waiting for my check mailed out to me, still no word or letter from them. 

So the question now is, if the lender is not receiving this funds, who will? 

Thank you for your understanding in this matter.

Company response to consumer: Closed with explanation