Consumer complaint received 2025-01-07 00:00:00
Product: Credit reporting or other personal consumer reports — Credit reporting
Issue: Improper use of your report — Reporting company used your report improperly
Company: CAPITAL ONE FINANCIAL CORPORATION
State: MO

Complaint narrative:
After XX/XX/XXXX I received a letter indicating that my Capital One N.A., CAPITAL ONE MULTI-ASSET EXECUTION TRUST and its Indenture Trustee XXXX XXXX XXXX XXXX XXXX XXXXXXXX accounts ending in 5144, 0216 and 4621 is closed. The letter indicated the reason my account was closed was because " activity on this account or other account is not consistent with our account usage and violates Capital One Customer Agreement ''. Well, CFPB inside of their XXXX XXXX XXXX XXXX report states Issuer trust collateral A collateral certificate issued by Capital One Master Trust, which is collateralized by receivables generated by revolving consumer and small business credit card accounts owned by Capital One N.A. or one of its affiliates... I mailed Capital One N.A., CAPITAL ONE MULTI-ASSET EXECUTION TRUST and its Indenture Trustee XXXX XXXX XXXX XXXX XXXX XXXXXXXX a properly endorsed registered security and they did not credit my account ending in XXXX, XXXX and XXXX. I spoke with the agent, cover person who told me it was received. He told me they didn't accept that form of payment. I said, " send it back if you reject it ''. He said we can't do that. UCC 3-603 ( b ) If tender of payment of an obligation to pay an instrument is made to a person entitled to enforce the instrument and the tender is refused, there is discharge. That means Capital One N.A., CAPITAL ONE MULTI-ASSET EXECUTION TRUST and its Indenture Trustee XXXX XXXX XXXX XXXX XXXX XXXX accepted it, but they still have not credited my account. When I sent my registered security, I sent an instruction letter informing them that I will continue to send them a properly endorsed security every month and to not close my account pursuant to the Equal Credit Opportunity Act which is codified in the XXXX XXXX. XXXX and is pursuant to civil liability under XXXX XXXX. XXXX. My credit application evidences a debt. It's a certificate of indebtedness. My application was turned into an asset back security and was sold and continues to be sold on the secondary market according to Capital One Multi-Asset Trust, and Trust Indenture Agreement on the SEC website. It is securities fraud to assign a CUSIP number to a security and trade/ sell on the secondary market. Also, XXXX Account ending XXXX, XXXX XXXX account ending XXXX and Capital One, NA accounts ending in XXXX, XXXX and XXXX charged off my Accounts. Charge-offs/ Certificate of Indebtedness is also considered income, and income can not be reported to my credit report. Also, because the accounts were charged-off, I know a XXXX was filed on the listed account. As far as the inquiries on my credit report, Capital One, XXXXXXXX XXXX and XXXX is considered financial institutions operating under a corporation and by definition under title 15 U.S. Code 1681b - Permissible purposes of consumer reports, they need my consent to furnish anything to my consumer report, therefore in reference to them reporting anything to my credit report as well as the inquiries by them on my consumer report, it is a violation to report any of my information. I absolutely did not give Capital One, XXXXXXXX XXXX XXXX or XXXX consent to furnish any information to XXXX, XXXX, XXXX, XXXX and/or any other third-party institution. Not only has Capital One, XXXXXXXX XXXX XXXX. XXXX closed my accounts without my consent, but Capital One N.A., XXXXXXXX XXXX XXXXXXXX. and XXXX is also performing against their own Indentured Trust operating agreements. I have proof my private information has been sold to 3rd parties. I am very aware of my Consumer Rights, and according to The Securities Exchange Act of 1934 and The Trust Indentured Act of 1939, Capital One, XXXX XXXX and XXXXXXXX XXXX XXXX. is in Violation according to their own prospectus as well as their XXXX forms on SEC websites. I indeed am protected by my lawful rights, and land of the law. I am also aware that Capital One, XXXXXXXX XXXX  and XXXX XXXX are Corporations who took my personal information then turned it into a security and sold it over to the primary and secondary markets and in the process extended back to me, my own credit when it should have been an unlimited charge card extended to me, because I am the one who furnished them a security by providing my information. I am claiming my Purchaser rights, being as though Capital One XXXX XXXX and XXXX XXXX is merely a corporation, which can not speak. Having knowledge from Capital One, XXXXXXXX XXXX  and XXXX XXXX prospectus reports, I have come to terms, I simply invested into their company. Capital One, XXXX XXXX and XXXX XXXX XXXX corporation has been disregarding the Trust Indentured Act of 1939 as well as The Securities Exchange Act of 1934. Capital One, XXXX XXXX and XXXXXXXX XXXX  has caused me extreme physical, mental, and emotional distress, putting a financial strain on my life. I frequently use my cards to pay for my bare necessities for myself. After speaking verbally to different agents of Capital One, XXXX XXXX and XXXXXXXX XXXX  on several different occasions, Capital One, XXXX XXXX and XXXXXXXX XXXX were unwilling to provide any equitable relief, especially knowing there is remedy for debt to be discharged, nor were they making any attempts to provide any alternate remedy, to discharge. Capital One, XXXX XXXX and XXXXXXXX XXXX has not only caused me unnecessary health issues, but my privacy also as well has been invaded and credit score depleted, from what it once uses to be. According to the Privacy Act of 1974, my information was improperly misused, reported, mishandled, and sold to other 3rd parties, as well as put on the primary and secondary markets, by Capital One Capital One, XXXX XXXX and XXXX XXXX. Per XXXX U.S. Code 1681s2 - Responsibilities of furnishers of information to consumer reporting agencies. ( a ) DUTY OF FURNISHERS OF INFORMATION TO PROVIDE ACCURATE INFORMATION. 1 ) PROHIBITION ... ( A ) Reporting information with actual knowledge of errors. A person shall not furnish any information relating to a consumer to any consumer reporting agency if the person knows or has reasonable cause to believe that the information is inaccurate.

Duty : a moral or legal obligation ; a responsibility Accurate : correct in all details ; exact.

PROHIBITION : a law or regulation forbidding something The IRS Clearly defines a charge off as Gross or Ordinary income, INCOME DOES NOT GET REPORTED ON THE CONSUMER REPORT which in fact makes your reporting of this account inaccurate! ..... 
The above paragraph is taken directly from the IRS XXXX publication.

Company response to consumer: Closed with explanation