Consumer complaint received 2024-02-08
Product: Credit reporting or other personal consumer reports — Credit reporting
Issue: Improper use of your report — Reporting company used your report improperly
Company: CAPITAL ONE FINANCIAL CORPORATION (RI)

Capital One appears to be in violation of multiple congressional laws pertaining to the three ( 3 ) accounts detailed in the attached dispute letter. These accounts include two ( 2 ) credit card accounts and one ( 1 ) auto loan account. In accordance with 15 U.S. Code 1681a ( 2 ) ( a ) ( i ), the consumer report should not encompass information solely related to transactions or experiences, such as payment history, occurring between the consumer ( myself ) and the reporting entity ( Capital One ). Additionally, 15 U.S. Code 1681s-2 ( a ) ( 1 ) ( A ) explicitly states that a person ( Capital One ) must refrain from furnishing any information to a consumer reporting agency if there exists knowledge or reasonable cause to believe that the information is inaccurate. 

Capital One is hereby formally notified of potential discrepancies and inaccuracies in the information provided. As stipulated in their terms and conditions, Capital One committed to not sharing my information with non-affiliates. Notably, XXXX, XXXX, and XXXX do not qualify as affiliates of Capital One, nor are they regarded as " bureaus '' in accordance with federal law. It is crucial to highlight that the sole authorized credit bureau is the Consumer Financial Protection Bureau ( CFPB ), which, as per federal law, does not furnish consumer reports. 

This notification serves as an alert to Capital One to review and rectify any inaccuracies promptly to ensure compliance with applicable laws and regulations. They are to address these concerns within the required legal time frames to avoid potential legal consequences. 
Attached i will have screenshots of transaction history and utilization furnished by Capital One to the reporting agencies. 
Here is what the law says : [ 15 U.S. Code 1681a - Definitions ; rules of construction ( 2 ) Exclusions.Except as provided in paragraph ( 3 ), the term consumer report does not include ( A ) subject to section 1681s3 of this title, any ( i ) report containing information solely as to transactions or experiences between the consumer and the person making the report ; ] [ 313.10 Limits on disclosure of non-public personal information to nonaffiliated third parties.

( a ) ( 1 ) Conditions for disclosure. Except as otherwise authorized in this part, you may not, directly or through any affiliate, disclose any nonpublic personal information about a consumer to a nonaffiliated third party unless : ( i ) You have provided to the consumer an initial notice as required under 313.4 ; ( ii ) You have provided to the consumer an opt out notice as required in 313.7 ; ( iii ) You have given the consumer a reasonable opportunity, before you disclose the information to the nonaffiliated third party, to opt out of the disclosure; and ( iv ) The consumer does not opt out. ] [ nonpublic personal information ( 4 ) Nonpublic personal information ( A ) The term nonpublic personal information means personally identifiable financial information ( i ) provided by a consumer to a financial institution ; ( ii ) resulting from any transaction with the consumer or any service performed for the consumer ] [ 15 U.S. Code 6809 - Definitions ( 4 ) Nonpublic personal information ( A ) The term nonpublic personal information means personally identifiable financial information ( i ) provided by a consumer to a financial institution ; ( ii ) resulting from any transaction with the consumer or any service performed for the consumer ; or ( iii ) otherwise obtained by the financial institution. ] **Privacy Act of 1974** [ 15 U.S. Code 6801 - Protection of nonpublic personal information ( a ) Privacy obligation policy It is the policy of the Congress that each financial institution has an affirmative and continuing obligation to respect the privacy of its customers and to protect the security and confidentiality of those customers nonpublic personal information.

( b ) Financial institutions safeguards In furtherance of the policy in subsection ( a ), each agency or authority described in section 6805 ( a ) of this title, other than the Bureau of Consumer Financial Protection, shall establish appropriate standards for the financial institutions subject to their jurisdiction relating to administrative, technical, and physical safeguards ( 1 ) to insure the security and confidentiality of customer records and information ; ( 2 ) to protect against any anticipated threats or hazards to the security or integrity of such records ; and ( 3 ) to protect against unauthorized access to or use of such records or information which could result in substantial harm or inconvenience to any customer. ] [ 15 U.S. Code 6802 - Obligations with respect to disclosures of personal information ( a ) Notice requirements Except as otherwise provided in this subchapter, a financial institution may not, directly or through any affiliate, disclose to a nonaffiliated third party any nonpublic personal information, unless such financial institution provides or has provided to the consumer a notice that complies with section 6803 of this title.

( b ) Opt out ( 1 ) In general A financial institution may not disclose nonpublic personal information to a nonaffiliated third party unless ( A ) such financial institution clearly and conspicuously discloses to the consumer, in writing or in electronic form or other form permitted by the regulations prescribed under section 6804 of this title, that such information may be disclosed to such third party ; ( B ) the consumer is given the opportunity, before the time that such information is initially disclosed, to direct that such information not be disclosed to such third party ; and ( C ) the consumer is given an explanation of how the consumer can exercise that nondisclosure option. ] **15 U.S. Code 6805 - Enforcement ( a ) In general Subject to subtitle B of the Consumer Financial Protection Act of 2010 [ 12 U.S.C . 5511 et seq. ], this subchapter and the regulations prescribed thereunder shall be enforced by the Bureau of Consumer Financial Protection, the Federal functional regulators, the State insurance authorities, and the Federal Trade Commission with respect to financial institutions and other persons subject to their jurisdiction under applicable law**