Consumer complaint received 2024-01-13
Product: Vehicle loan or lease — Loan
Issue: Managing the loan or lease — Billing problem
Company: CAPITAL ONE FINANCIAL CORPORATION (GA)

Account XXXX XXXX Billing Error Dispute per 15 USC 1666 Correction of billing errors. Securities fraud per SEC XXXX filing. Recission of security interest. No money was loaned. 

On XXXX XXXX I purchased an auto supposedly finance through Capital One Auto Finance. The process consisted of me filling out a application which under the UCC 9-102 ( a ) ( 47 ), which was established by Bill of exchange act of 1882 and upheld by 40 STAT 411 48,48 and 1 USC 112 as an enforceable law. The application I signed was a negotiable instruments which the bank received from me in their capacity as a securities transfer agent. The money net daily transaction log XXXX on the account will show that the lender of the loan was XXXX XXXX. Capital one never loaned me any money, the dealership and Capital One failed to disclose material facts such as they had received a certificate of indebtedness from U.S. treasury through the Federal reserve and failed to credit to my account. Part of the deception the dealership acting as an agent of Capital One as outline in their SEC filings and indentured trustee agreement rushed me though the process and neglected to inform me that in the contract I was giving Capital One a security interest in the auto loan that I was buying giving them to use for the car I was purchasing as collateral for a loan I never received from the bank. I was mislead to believe that I had to make monthly payments in the amount of {$650.00} a month causing me extreme hardship. Each month they sent me a statement implying I owed that sum of money, but Capital One did not credit my account with the dividend payments that were made from my treasury coupon via the Electronic Funds Transfer Act. During this same time according to their SEC filing they securitized my note to sell on the secondary market making millions off of my money. As a holder in due course of the note I never received any compensation, nor have I received any tax statements in order to file my taxes properly. I should have received a XXXX when they filed it in 2021. Due to the hardship in making those fraudulent gain car payments Capital One made false and misleading reports to the credit bureaus affecting my ability to acquire credit. I asked Capital One to provide me a copy of contract, which didn't have them listed anywhere on the contract as the lender. I also asked Capital One for a copy of XXXX and buyers order, neither documents where provided. According to their SEC filing Capital One Auto Finance sold the Note to their other affiliates during the securitization process therefore now the entity know as Capital one no longer has the loan in their possession but refuse to release a fraudulent XXXX on the collateral and threatening foreclosure. They have a contract with their indentured trustee ( XXXX XXXX ) to act as loan servicer. As loan servicer they have no legal right to foreclosure or accept money in the form of payments. I would like to officially rescind and security interest I unknowingly granted. I would also reference 15 USC 1601-1693 as subject matter law. I emailed XXXX XXXX XXXX XXXX XXXX XXXX XXXX to make here aware of what was going on, my first email was received, further emails failed and never received any reply or call back.