Consumer complaint received 2024-04-05
Product: Checking or savings account — Checking account
Issue: Managing an account — Deposits and withdrawals
Company: CAPITAL ONE FINANCIAL CORPORATION (MD)

I hope this message finds you well. My name is XXXX XXXX XXXX and for over a decade, I have been a proud and dedicated customer of Capital One Bank XXXX As a XXXX veteran and the proprietor of a minority-owned small business, a dependable and supportive banking relationship is fundamental to my operations and overall success. 

I am writing to urgently request your intervention in a matter that has significantly impacted my business and personal financial stability. Initially, on Tuesday, XX/XX/year>, I sought assistance from both Capital One leadership and the Maryland Attorney Generals Office regarding a severe issue with my business account. Despite assurances of a prompt resolution, the situation has alarmingly deteriorated. 

By Wednesday, XX/XX/year>, I discovered my account was overdrawn by more than {$17000.00} due to a disputed check endorsement, prompting an unjustified hold on my funds by Capital One. This has gravely affected my operational capacity, causing missed client deadlines, late payments, and reputational damage due to bounced checks. 

Efforts to rectify this, including communications with XXXX from the Presidents Office and the small business team, have regrettably been in vain. As of today, Friday, XX/XX/year>, the predicament has escalated with the imposition of multiple NSF fees for returned payments and the restriction of my personal accounts alongside my business ones. 

The Consumer Protection department was incredibly unhelpful and wrongly stated that the certified check that I deposited was returned, when in fact, Capital One Bank bookkeeping put a chargeback hold due to the endorsement of the check, not the availability of funds.

This morning, to my astonishment and despair, I was informed that all my accounts are being erroneously closed and frozen, denying me access to the capital I have earnestly accumulated. This error not only exacerbates my current predicament but also places an unbearable strain on my ability to meet financial obligations and sustain my business.

The cumulative effect of these actions by Capital One Bank is not only disappointing but alarming, casting doubts on the reliability and integrity of its operations. As a loyal customer who has relied on your services for essential banking needs, I am deeply disheartened by this experience.

I respectfully urge a comprehensive investigation into these matters and immediate corrective measures to unfreeze and restore my accounts. Additionally, I seek compensation for the undue financial hardship and distress this situation has inflicted.

Your prompt and decisive resolution of this issue is critical for the survival of my business and the preservation of my financial well-being. I am prepared to provide any further information or documentation needed to expedite this process.

Thank you for your immediate attention to this critical matter. I eagerly await your response and am hopeful for a swift and favorable resolution. 

Sincerely, XXXX XXXX XXXX XXXX XXXX XXXX XXXX Forwarded message XXXX XXXX XXXX XXXX XXXX From : XXXX XXXX XXXX Date : Tue, XXXX XXXX XXXX at XXXX Subject : Urgent Request for Investigation : Possible Civil Rights Violation Regarding Account Holds To : XXXX XXXX XXXX XXXXXXXX XXXX Dear Capital One Bank Leadership and Attorney General, I hope this message finds you well. My name is XXXX XXXX XXXX and I am writing to you as a loyal customer of Capital One Bank for over ten years. As a XXXX veteran and a minority-owned small business owner, a convenient and reliable banking relationship is imperative to sustainability. 

I am compelled to bring to your attention a concerning matter that has recently occurred, which I believe warrants immediate investigation. On two separate occasions within the past year, including most recently on XX/XX/year>, significant funds in the amount of {$43000.00} were held in my business account for an unreasonable length of time. 

The deposit made on XX/XX/year>, was a cashier 's check from a black-owned bank. It is noteworthy to mention that in my 20 years of banking, I have never had a cashier 's check held for seven days. 

What is particularly distressing is not only the prolonged hold on these funds but also the complete inability to access any funds in the account, including those I had transferred from my personal account. Despite my inquiries into the reason for the hold and my urgent need for access to the funds, I was met with unprofessional treatment and disrespect. Regrettably, I was hung up on twice during my attempts to resolve this issue.

As a person of color, I can not ignore the possibility that these actions may constitute a civil rights violation, especially considering similar experiences I have heard from other customers of color. It is deeply troubling to think that such discriminatory practices may be occurring within our banking system.

Therefore, I implore the leadership at Capital One Bank to launch a thorough investigation into this matter. It is imperative that we ascertain the reasons behind these holds, ensure that they are not rooted in discriminatory practices, and take appropriate action to rectify any injustices that may have occurred.

Additionally, I am reaching out to the Maryland Attorney Generals Office to request their involvement in investigating this issue. It is crucial that we work together to uphold the principles of fairness, equality, and justice within our banking institutions.

I sincerely hope that you will take this matter seriously and initiate prompt action to address it. I am available to provide any further information or assistance that may be required for the investigation.

Thank you for your attention to this urgent matter. 

Sincerely, XXXX XXXX XXXX XXXX XXXX regards, photo XXXX XXXX XXXX XXXXXXXX XXXX XXXX XXXX XXXX XXXX XXXXXXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX, MD XXXX