Consumer complaint received 2022-10-09
Product: Checking or savings account — Savings account
Issue: Opening an account — Unable to open an account
Company: CAPITAL ONE FINANCIAL CORPORATION (NC)

Hi, I am writing to bring attention to the fact that there are policies in place at big banks that are prohibit access to financial products to immigrants and non-English speaking residents. Specifically, I was helping my parents set up a new savings account with Capital One today ( Sat XX/XX/2022 ). As a first gen XXXX XXXX, I have spent my whole life helping my immigrant parents with translation and navigating the American system, including finances, as English is not their first language and they did not grow up here. There were issues in the account set up process - specifically, that upon ID verification and funding the new Capital One savings account via a transfer from an external bank, there was no prompt to create a username or password i.e. log into the account. There were no communications via email, text, or call about next steps or confirmation that the account was set up even though the ID verification was successful according to the Capital One website and the first transfer of funds was successful and therefore in process. I decided to call Capital One to inquire why this was occurring. 
The Capital One rep on the phone insisted that my dad verify his identity on the phone. I told the rep I was his daughter calling on his behalf because English is not his first language, that he was right next to me and I have his PII ready to confirm the account information. The rep insisted that the only way to look into what was going on would be for him to speak to her directly. So I assisted my dad who speaks limited English to provide the info the rep was requesting which included his SSN, first and last name, and phone number. She asked for the phone number to send him a text to verify his identity, which did not work - the text was never received. I am not completely sure why this occurred as my dad is able to receive texts on his phone, so my guess would be that due to his accented English, she did not enter the correct number. I was next to my dad guiding him this entire time and felt angered by ( 1 ) how long this process was taking when I had all his information ready with his consent to help get the account set up and working for him to use by himself in the future, and most of all ( 2 ) the indignity of having to struggle to provide this information in his non-native language at my dad 's older age, only to not have any of this be worth it because there ultimately was no resolution.

The call was then escalated to a supervisor at Capital One named XXXX ( employee ID : XXXX ), who suggested calling back in 72 hours if the online sign up still did not work. I asked if my dad would need to speak to a Capital One rep again because doing this is discriminatory against those not fluent in English and a huge barrier to access financial products in the US as a working and taxpaying resident albeit not a fluent English speaker. He said he knows this can " be a bit of an inconvenience '' which shows the lack of understanding and empathy of the struggles to access and navigate the US financial system for immigrants and non-native English speakers, and that this was just one more indignity immigrants and racial minorities face in this country. 
I am writing not to suggest XXXX or the rep I spoke to at Capital One be fired - that solves nothing. I work at a XXXX and understand the need to verify customers especially given the surge in fraud in financial services. However, I don't think the solution is to have exclusionary and discriminatory policies in place. Rather, I think this type of treatment should be taken seriously by prospective and existing customers to improve big banks ' policies and procedures to be more inclusive rather than creating barriers to building financial wealth. I said this to XXXX on the phone as well. The phone call occurred at XXXX XXXX  est, lasted for 20 minutes, and both calls with the first rep and the supervisor was recorded by Capital One. If you're also wondering why the call was made so late - my parents work in food service and don't come home until XXXX XXXX  most nights. 

I am submitting this complaint as I don't believe me expressing this to XXXX, the supervisor at Capital One, will properly raise the concern and anger I feel that the financial system in this country does not work for people like my parents, to the leaders of Capital One to advocate for changes to their policies and procedures to be more inclusive and make financial products and processes accessible because they " believe in financial independence for everyone '' as they say on their company website. Clearly, " everyone '' does not truly mean everyone here. I'd like to know something is being done to address this as calling to resolve a seemingly common issue should not result in micro aggressions reminding POC and immigrants that the financial system is built to be difficult and exclusionary towards us.