Consumer complaint received 2025-01-23 00:00:00
Product: Credit card — General-purpose credit card or charge card
Issue: Other features, terms, or problems — Other problem
Company: CAPITAL ONE FINANCIAL CORPORATION
State: MO

Complaint narrative:
On XX/XX/XXXX I applied for a financial product with Capital One. At the time of application, Capital One failed to disclose how my application and security interest would be utilized to create value for the bank. The credit granted, which was based on my security interest, was not adequately disclosed, thus constituting a failure of disclosure under the Truth in Lending Act ( TILA ), XXXX U.S.C. XXXX. 
XXXX. Unjust High Interest Rates Despite numerous inquiries and administrative procedure requests, Capital One continued to apply high interest rates to the estates account ( s ), violating the fair practices outlined in the Fair Credit Billing Act ( FCBA ), XXXX U.S.C. XXXX, and other provisions of consumer protection laws that require fair and transparent interest disclosures. 
XXXX. Non-response to Administrative Procedure Requests On XX/XX/XXXX, I submitted a formal request by mail to Capital One asking them to revoke the POA granted over the principal account and to reverse the security interest back to the estate. Capital One has failed to respond to this administrative procedure request within a reasonable period, violating rights under the Administrative Procedure Act ( APA ), XXXX U.S.C. XXXX, and also failing to meet their obligations under Regulation Z ( Truth in Lending ) and Regulation B ( Equal Credit Opportunity Act ). 
3.4. Improper Account Closure Despite the pending request to address the security interest issues, Capital One improperly closed the estates account without providing adequate notice or reason. This act violated the terms of the Equal Credit Opportunity Act ( ECOA ), XXXX U.S.C. XXXX, as well as XXXX C.F.R. Part XXXX, which prohibits discrimination and arbitrary account closures without due cause or proper communication. 
4. Violations of Law 4.1. Truth in Lending Act ( TILA ), XXXX U.S.C. XXXX Capital One violated the TILA by failing to properly disclose the use of my application and security interest in generating credit for the banks financial benefit. The bank also failed to disclose the actual cost of credit, interest rates, and other material terms required under the law. 
XXXX. Fair Credit Billing Act ( FCBA ), XXXX U.S.C. XXXX Capital One failed to fairly and transparently disclose how interest rates were applied and failed to honor good faith billing inquiries under the FCBA. High interest rates applied to the estates account were unjust and caused injury to the estate. 
XXXX. Administrative Procedure Act ( APA ), XXXX U.S.C. XXXX Capital One failed to respond to formal requests submitted in writing to revoke the POA over the principal account and to reverse the security interest back to the estate, a violation of due process and procedural fairness. 
XXXX. Equal Credit Opportunity Act ( ECOA ), XXXX U.S.C. XXXX Capital One violated ECOA by closing the estates account without responding to the administrative procedure requests and without just cause. The failure to process these requests and the closure of the account could be construed as discriminatory, in violation of the estates equal rights to credit.

Company response to consumer: Closed with explanation