Consumer complaint received 2025-08-24 00:00:00
Product: Checking or savings account — Savings account
Issue: Managing an account — Funds not handled or disbursed as instructed
Company: CAPITAL ONE FINANCIAL CORPORATION
State: CA

Complaint narrative:
I am submitting this complaint to formally request the Consumer Financial Protection Bureaus assistance in resolving a prolonged and unjustified account restriction imposed by Capital One Bank, which has resulted in the withholding of my funds without a valid legal basis. 
Capital One initially locked my account due to identity verification concerns. I was informed that the restriction related to a recent legal name change, which had not yet been updated on the identification I submitted. In good faith, I complied with Capital Ones request and provided a certified copy of my court order reflecting the legal name change. 
Subsequently, I was instructed to appear in person at a Capital One XXXX or branch. I complied with this directive and appeared at the XXXX XXXX XXXX on XX/XX/XXXX. At that time, I submitted all requested documentation. During this visit, I was informed for the first time that the true reason for the account restriction was that the Social Security Number ( SSN ) on file did not match IRS records. 
I clarified this matter immediately to Capital One representatives XXXX and XXXX at the XXXX XXXX location. I explained that the number I used to open the account was not a SSN, but rather an IRS-issued Individual Taxpayer Identification Number ( ITIN ) assigned for use under my businesss name. I was unaware that using this number to open a personal account would be a violation, as it was intended solely for business purposes. 
To verify my explanation, I presented Capital One with the IRS Letter of Determination, which clearly shows my legal name, the EIN, and the address on file. Despite this verification, Capital One refused to release the funds and instead asserted a new reason for the hold : the deposit of a third-party check. 
I then informed Capital One that the check in question was issued by my own business. I am the sole owner and registered agent of the company, which is properly filed and active with the Secretary of State. The check was not third-party in nature, as both the issuing entity and the recipient are directly affiliated with me. I have provided all documentation demonstrating my ownership, including business registration, my role as agent, and matching address and name information. 
At this point, Capital One has cycled through multiple reasons for withholding my funds all of which have been adequately addressed with legitimate documentation. The shifting justification for these restrictions suggests arbitrary and bad faith actions, rather than genuine compliance or fraud prevention. 
I respectfully assert the following : My right to access my funds is protected under the Electronic Fund Transfer Act ( EFTA ) and Regulation E, which requires financial institutions to act promptly and fairly in addressing account access issues. 
Under 12 CFR 1005.6, financial institutions may not unreasonably restrict access to a consumers account or delay the release of funds without clear and lawful cause.

Capital Ones actions may constitute an unfair and deceptive practice, in violation of the Consumer Financial Protection Act of 2010 ( 12 U.S.C. 5531 ), by providing inconsistent reasons for account holds, failing to provide timely resolution,

Company response to consumer: Closed with explanation