Consumer complaint received 2024-05-09 00:00:00
Product: Vehicle loan or lease — Loan
Issue: Managing the loan or lease — Billing problem
Company: CAPITAL ONE FINANCIAL CORPORATION
State: GA

Complaint narrative:
I am writing to lodge a formal complaint against Capital One Auto Finance concerning discrepancies in my auto loan contract, refusal to acknowledge a XXXX cancellation of debt, and potential securities fraud. 

On XX/XX/XXXX, I entered into an auto loan agreement with Capital One for a vehicle. Upon subsequent review, I identified discrepancies within the contract that were not originally disclosed. To address this, I contacted Capital One and provided them with a copy of the XXXX form, which was accepted by the XXXX on XX/XX/XXXX, indicating full satisfaction of the debt associated with the vehicle. 

Despite this, Capital One has failed to update my account to reflect the XXXX debt. On XX/XX/XXXX, I engaged in a follow-up conversation with Capital One regarding the XXXX, the release of my vehicle 's title, and the request for the XXXX  number associated with my account. Capital One 's representatives informed me that they do not file taxes or accept XXXX forms, and claimed there was a lien on the title. 

However, a XXXX search conducted by myself revealed no liens filed against the title, contradicting Capital One 's claim. According to XXXX state law, all liens must be filed through the clerk of the courts, yet Capital One has refused to provide a copy of the alleged XXXX or the XXXX number upon request. 

This refusal constitutes a billing error and a violation of UCC 3-603, which states that if tender of payment of an obligation is made and refused, there is a discharge to the extent of the amount of the tender. Furthermore, I believe Capital One is committing securities fraud under the XXXX Act, as they are potentially engaging in deceptive practices related to the securities associated with my account. 

I am requesting the CFPB 's assistance in investigating these matters and compelling Capital One to : 1. Correct the discrepancies in my auto loan contract. 
2. Acknowledge the XXXX form and update my account to reflect the XXXX debt. 
3. Provide evidence of the alleged XXXX or remove the claim if it is unsubstantiated. 
4. Disclose the XXXX XXXX  associated with my account for verification purposes. 

Enclosed, please find copies of the auto loan contract, the XXXX form, and the results of the XXXX search XXXX I am prepared to furnish any additional information or documentation as needed. 

I appreciate your prompt attention to this matter and await your response. 

Sincerely, Source : ( 1 ) 3-603. TENDER OF PAYMENT. - XXXX XXXX XXXX XXXX XXXX. XXXX XXXX XXXX. 
( 2 ) 18 U.S. Code 3301 - Securities fraud offenses | U.S. Code | US Law .... XXXX XXXX XXXX. 
( 3 ) 18 U.S. Code 1348 - Securities and commodities fraud. XXXX XXXX XXXX. 
( 4 ) Rule 10b-5 : Definition and Role in XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX. 
( 5 ) Uniform Commercial Code Law Section 3-603XXXX XXXX XXXX XXXX. 
( XXXX ) XXXX XXXXXXXX Consolidated Laws, Uniform Commercial Code - UCC 3-603 .... XXXX XXXX XXXX. 
( 7 ) XXXX XXXX Uniform Commercial Code Law XXXX ( XXXX ) - XXXX Law. https : XXXX. 
( XXXX ) What is the Statute of Limitations for Securities Fraud?. XXXX XXXX XXXX 
( XXXX ) XXXX | The Laws That Govern the Securities Industry. XXXX XXXX XXXX

Company response to consumer: Closed with explanation