Consumer complaint received 2024-06-21
Product: Credit card — General-purpose credit card or charge card
Issue: Closing your account — Company closed your account
Company: CAPITAL ONE FINANCIAL CORPORATION (IL)

XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXXXX/XX/XXXX Capital One N.A. 
XXXX XXXX XXXX XXXX XXXX XXXX, UT XXXX Re : Account ending in XXXX Dear Sir/Madam, I am writing to formally express my profound dissatisfaction and to demand immediate rectification and compensation regarding the abrupt closure of my account ending in XXXX. The notification of this closure was delivered through the Capital One app on the very day of the account closure, a platform which I rarely use. This method of communication is grossly inadequate and fails to meet reasonable standards for such significant actions. 

Inadequate Notification and Timing The use of the app, which is not my primary means of communication, for delivering such critical account information is unacceptable. Furthermore, providing this notification on the same day of the closure did not afford me any opportunity to address or rectify the situation, directly contravening the terms of our agreement and several statutory protections. 

Statutory Violations Truth in Lending Act ( TILA ) Your actions appear to violate the Truth in Lending Act ( 15 U.S.C. 1601 et seq. ), which mandates clear and timely disclosures regarding significant account changes. The lack of prior notification and explanation provided contravenes the transparency and fairness required by TILA.

Fair Credit Reporting Act ( FCRA ) If the decision to close my account was influenced by my credit report, the Fair Credit Reporting Act ( 15 U.S.C. 1681m ) requires that I receive an adverse action notice, detailing the specific reasons and the credit reporting agency involved. The absence of such notice suggests a violation of the FCRA.

Illinois Consumer Fraud and Deceptive Business Practices Act ( ICFA ) Under the Illinois Consumer Fraud and Deceptive Business Practices Act ( 815 ILCS 505/1 et seq. ), your conduct may be considered an unfair practice. The abrupt account closure without due process misleads and unfairly disadvantages me as a consumer. 

Relevant Court CaseXXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXXXXXX : The court found that under TILA, lenders are required to provide clear and timely disclosures regarding account changes, including closures. XXXX XXXX XXXXXXXX was required to provide compensation for failing to notify the plaintiff properly. 
Outcome : Plaintiff awarded damages for inconvenience and financial harm. 
XXXX. XXXXXXXX XXXX XXXX XXXX XXXX XXXX ( XXXX ) XXXX : XXXX was found to have failed to provide adequate notice as required under TILA, constituting a breach of the customer agreement.

Outcome : Plaintiff awarded damages for financial and reputational harm.

Demands for Immediate Action Given these severe procedural lapses, I demand the following actions be taken immediately : 1. Restoration of Account : Reopen my account without delay, reinstating all terms and conditions as they stood prior to the unauthorized closure.

2. Compensation : Reimburse all interest charges, fees, and any other financial detriments incurred due to the unlawful account closure. This includes compensatory damages for breach of contract and statutory violations. Based on the interest charges, fees, and estimated financial impact, I am demanding a total compensation of {$1500.00}. 
3. Written Apology and Explanation : Provide a comprehensive written apology and detailed explanation of the reasons behind the account closure, including acknowledgment of the breaches and statutory violations. 
4. Adherence to Legal Obligations : Ensure compliance with all relevant federal and state laws, including TILA, FCRA, and ICFA, in all future dealings. 

Failure to address these demands within 10 business days will compel me to escalate this matter through appropriate legal channels, including filing formal complaints with the Consumer Financial Protection Bureau ( CFPB ), the Federal Trade Commission ( FTC ), and the Illinois Attorney Generals Office. Additionally, I will seek legal redress for all damages incurred due to your actions. 

Conclusion This letter serves as formal notice and demand for corrective action. I trust that Capital One will recognize the gravity of this situation and respond promptly to rectify these serious breaches. 

Yours sincerely, XXXX XXXX XXXX XXXX XXXX XXXX XXXXXXXX XXXX XXXX