Consumer complaint received 2021-10-16
Company: CAPITAL ONE FINANCIAL CORPORATION
State: TX
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 sent Capital One written correspondent about correcting a billing error on XX/XX/21 Capital One responded with immediate closure of both my credit card account and reported it as closed to the credit reporting agencies causing me damages. Pursuant to 15 U.S. Code 1602 ( j ) The terms open end credit plan and open end consumer credit plan mean a plan under which the creditor reasonably contemplates repeated transactions, which prescribes the terms of such transactions, and which provides for a finance charge which may be computed from time to time on the outstanding unpaid balance.

Pursuant to 12 CFR 1026.13 ( d ) Rules pending resolution. Until a billing error is resolved under paragraph ( e ) or ( f ) of this section, the following rules apply : ( 1 ) Consumer 's right to withhold disputed amount ; collection action prohibited. The consumer need not pay ( and the creditor may not try to collect ) any portion of any required payment that the consumer believes is related to the disputed amount ( including related finance or other charges ). If the cardholder has enrolled in an automatic payment plan offered by the card issuer and has agreed to pay the credit card indebtedness by periodic deductions from the cardholder 's deposit account, the card issuer shall not deduct any part of the disputed amount or related finance or other charges if a billing error notice is received any time up to 3 business days before the scheduled payment date.

Fact, affiant is aware and has proof in attachment labeled as exhibit A that CAPITAL ONE is still trying to collect.

( 2 ) Adverse credit reports prohibited. The creditor or its agent shall not ( directly or indirectly ) make or threaten to make an adverse report to any person about the consumer 's credit standing, or report that an amount or account is delinquent, because the consumer failed to pay the disputed amount or related finance or other charges. 
Fact, affiant is aware and has proof in attachment labeled as exhibit B that CAPITAL ONE reported it to the credit agency as closed. 
( 3 ) Acceleration of debt and restriction of account prohibited. A creditor shall not accelerate any part of the consumer 's indebtedness or restrict or close a consumer 's account solely because the consumer has exercised in good faith rights provided by this section. A creditor may be subject to the forfeiture penalty under 15 U.S.C. 1666 ( e ) for failure to comply with any of the requirements of this section. 
Fact, affiant is aware and has proof in attachment labeled as exhibit C that CAPITAL ONE has violated my rights as a federal protected consumer by taking adverse action against me when written notice was received for account CAPITAL ONE restricted and closed both of my accounts, which were in good standing without my consent. Note that account was not addressed in exhibit D but was subsequently and now closed.

Pursuant to 15 U.S. Code 1666 ( d ) RESTRICTING OR CLOSING BY CREDITOR OF ACCOUNT REGARDED BY OBLIGOR TO CONTAIN A BILLING ERROR Pursuant to regulations of the Bureau, a creditor operating an open end consumer credit plan may not, prior to the sending of the written explanation or clarification required under paragraph ( B ) ( ii ), restrict or close an account with respect to which the obligor has indicated pursuant to subsection ( a ) that he believes such account to contain a billing error solely because of the obligors failure to pay the amount indicated to be in error. Nothing in this subsection shall be deemed to prohibit a creditor from applying against the credit limit on the obligors account the amount indicated to be in error.

Fact, affiant is aware and has proof in attachment labeled as exhibit C that CAPITAL ONE has violated my rights as a federal protected consumer by taking adverse action against me when written notice was received for account. CAPITAL ONE restricted and closed both of my accounts, which were in good standing without my consent. Note that account was not addressed in exhibit D but was subsequently and now closed. 
( e ) EFFECT OF NONCOMPLIANCE WITH REQUIREMENTS BY CREDITOR Any creditor who fails to comply with the requirements of this section or section 1666a of this title forfeits any right to collect from the obligor the amount indicated by the obligor under paragraph ( 2 ) of subsection ( a ) of this section, and any finance charges thereon, except that the amount required to be forfeited under this subsection may not exceed {$50.00}. 
Read the Attached correspondent

Company response to consumer: Closed with explanation