Consumer complaint received 2024-12-05 00:00:00
Product: Credit reporting or other personal consumer reports — Credit reporting
Issue: Improper use of your report — Credit inquiries on your report that you don't recognize
Company: CAPITAL ONE FINANCIAL CORPORATION
State: NJ

Complaint narrative:
Dear Consumer Financial Protection Bureau ( CFPB ), My name is XXXX XXXX, residing at XXXX XXXX XXXX, XXXX, NJ, XXXX. I am writing to request your assistance in addressing an issue with Capital One regarding a hard inquiry on my credit report that was made under false pretenses. The situation at hand reflects a violation of various consumer protection laws and regulations, and I urge the CFPB to intervene to ensure Capital One rectifies this matter by removing the hard inquiry from all three major credit bureausXXXX XXXX and XXXX. 

Incident Overview On XX/XX/XXXX, at XXXX XXXX, I called Capital One 's customer service at XXXX to inquire about the preapproval for the Quicksilver credit card ending in XXXX. During this call, I explicitly asked if applying for the card would result in a hard inquiry on my credit report. The Capital One representative assured me that only a soft inquiry would be conducted. Based on this representation, I proceeded with the application. 

However, shortly after, I received a notification from XXXX indicating that a hard inquiry had been made on my credit report by Capital One. Upon verifying this information through XXXX XXXX, I confirmed that a hard inquiry had indeed been conducted. This action not only contradicts the information provided by Capital One 's representative but also adversely impacts my credit score, reducing my ability to secure loans or open new lines of credit.

Violations of Consumer Protection Laws Capital Ones actions constitute clear violations of consumer protection laws and industry standards, including but not limited to : Truth in Lending Act ( TILA ), 15 U.S.C. 1601 et seq.

TILA requires creditors to provide clear and accurate information to consumers regarding the terms and conditions of credit. The misrepresentation by the Capital One representative about the nature of the credit inquiry violates this obligation.

Fair Credit Reporting Act ( FCRA ), 15 U.S.C. 1681 et seq. 

The FCRA mandates that consumer credit information must be reported accurately. Capital One 's failure to disclose the correct type of inquiry and the subsequent reporting of a hard inquiry without proper authorization violates my rights under the FCRA. 
Deceptive Acts or Practices ( Dodd-Frank Wall Street Reform and Consumer Protection Act, 12 U.S.C. 5531 ) Misrepresenting the nature of the credit inquiry constitutes a deceptive act or practice under the Dodd-Frank Act, designed to protect consumers from misleading financial practices.

Case Precedents Supporting My Argument Several legal precedents support my position, demonstrating the accountability of financial institutions for misrepresentations : XXXX XXXX. XXXX XXXX XXXX XXXX XXXX, XXXX XXXX XXXX ( XXXX ) This case established that credit reporting violations could occur due to reckless behavior. Capital Ones failure to provide accurate information constitutes reckless misrepresentation. 
XXXX XXXX XXXX XXXX XXXX, XXXX, XXXX XXXX XXXX ( XXXX. XXXX. ) This case emphasized the consumers right to have incorrect information promptly corrected on credit reports. 
XXXX XXXX XXXX XXXX XXXX, XXXX XXXX XXXX ( XXXX ) Highlighted the tangible harm caused by inaccurate credit reporting, underscoring the impact of XXXX Ones actions on my financial standing. 
Harm Caused by the Hard Inquiry The unauthorized hard inquiry has negatively affected my credit score, reducing my ability to secure loans, open new credit accounts, and access favorable interest rates. As credit scores are a critical factor in financial decision-making, the actions of Capital One have caused me substantial harm, both financially and reputationally. 

Request for Resolution I request that Capital One : Immediately contact XXXX, XXXX, and XXXX to have the unauthorized hard inquiry removed from my credit report. 
Provide written confirmation of the correction to me and to the CFPB. 
Implement measures to ensure accurate and truthful communication by representatives to prevent similar incidents in the future. 

The evidence presented, combined with the legal precedents and regulatory framework, demonstrates Capital One 's failure to act in accordance with consumer protection laws and standards. Their actions have not only misled me but also caused measurable harm. By failing to amend the hard inquiry, Capital One would continue to violate federal regulations and undermine the principles of fairness and transparency in the credit industry. 

I trust the CFPB will advocate on my behalf and hold Capital One accountable for their actions. If Capital One does not take immediate corrective action, I request CFPB to pursue further legal remedies to protect my financial rights and correct the frivolous hard inquiry. 

Thank you for your time and attention to this matter. I am available for any additional information or documentation needed to support this request. 

Sincerely, XXXX XXXX

Company response to consumer: Closed with non-monetary relief