Consumer complaint received 2025-05-16 00:00:00
Product: Checking or savings account — Checking account
Issue: Closing an account — Company closed your account
Company: CAPITAL ONE FINANCIAL CORPORATION
State: MD

Complaint narrative:
Dear CFPB Complaint Intake Officer, I respectfully submit this complaint against Capital One Bank, N.A. for improperly closing my personal checking account, misrepresenting the disposition of my funds, and failing to provide required notice or documentation. 

Summary of Events On XX/XX/XXXX, I received a letter from Capital One stating that my account showed signs of fraudulent activity and that my identity needed to be verified. I contacted Capital One immediately and attempted to complete the identity verification via the provided link. Unfortunately, repeated technical issues prevented me from finishing the process despite several hours on the phone with your support team and multiple attempts. 
In XX/XX/XXXX, I was instructed to visit a local Capital One branch to verify my identity in person. However, when I did so in XX/XX/XXXX, I was informed that my account had already been closed and that the funds had been transferred to the XXXX XXXXXXXX XXXX XXXX. I had received no advance notice that the account would be closed or that my funds would be transferred. 
After that, I regularly checked the Maryland unclaimed property website, but my funds never appeared. In XX/XX/XXXX, I contacted the XXXX XXXX XXXX XXXX directly. The state staff confirmed that if Capital One had transferred the funds, they should have been listed by then. They provided me with an internal Capital One phone number and advised me to follow up with your bank. I called that number and spent hours being transferred between Capital Ones Abandoned Property and Claims departments. Ultimately, I was just redirected back to general customer service without any answers or resolution regarding my missing funds. 
On XX/XX/XXXX, I called Capital Ones Customer Protection line again and was finally able to complete a new identity verification during that call. The representative located my case and informed me that, after review, your investigation team had concluded the funds were not yours due to suspected suspicious activity. I was shocked by this explanation, as I had opened the account in person and made the initial cash deposit at the branch counter there is no basis for claiming the money was not mine. The representative noted my response, promised to escalate the matter internally, and said I would receive an update. To date, I have received no follow-up communication or written explanation of any kind.

Violations and Consumer Harm Capital Ones handling of my account appears to violate several laws and basic consumer rights. In plain terms, here are my concerns : 1. Unfair and Deceptive Practices ( 1031, Consumer Financial Protection Act ) Capital One asserted that my funds were turned over to unclaimed property, yet the Maryland custodial agency never received them. The conflicting explanations constitute deceptive communication.

2. Potential Escheatment Violations ( Md. Com. Law 17-301 et seq. ) - Marylands escheatment statutes require a clear dormancy period and due diligence ( including notifying the customer ) before transferring funds to the state as unclaimed property. My account was active and nowhere near any dormancy threshold, yet the funds were allegedly turned over to the state prematurely and without proper documentation. This improper and premature transfer of funds appears to violate Maryland law.

3. Mishandling of internal processes : Capital One repeatedly failed to verify my identity through its own systems and did not provide a functional escalation or appeals process. These internal failures from broken verification links to being bounced between departments denied me a fair opportunity to protect my funds. This reflects a serious breakdown in your obligations to me as their customer.

4. Failure to Produce Records ( 12 U.S.C. 3401 et seq. ) and Lack of Notice & Due Process I was never given any written notice before or after my account closure, nor any opportunity to respond to the fraud allegations or to prevent my funds from being removed. This lack of communication and absence of a fair chance to resolve the issue is unacceptable and arguably unlawful.

Requested Relief Full reimbursement of the missing balance ( over {$400.00} ) plus any accrued interest.

Written, signed explanation of the account closure and the whereabouts of my funds.

Complete copies of all notices, internal findings, and transfer records related to this case.

Any other relief the CFPB deems appropriate to ensure Capital Ones compliance and prevent similar consumer harm.

Thank you for your prompt attention to this matter. I am available to provide any additional documentation or testimony the Bureau may require. 

Sincerely, XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXXXXXX

Company response to consumer: Closed with non-monetary relief