Consumer complaint received 2024-02-23 00:00:00
Product: Credit card — General-purpose credit card or charge card
Issue: Closing your account — Company closed your account
Company: CAPITAL ONE FINANCIAL CORPORATION
State: GA

Complaint narrative:
My proper name is XXXX XXXX XXXX BENEFICIARY XXXX AUTHORIZED AGENT for the said ACCOUNT HOLDER AND PRINCIPAL, XXXX XXXX XXXX Capital One is violating the federally protected rights of the Consumer and Principal, XXXX XXXX. As the AUTHORIZED AGENT and INITIAL INVESTOR, I am entitled to receive the aggregate principal amount at the time of my tendering a security along with access to the proper percentage of shares of the trading of the notes. Aggregate Principal Amount means, with respect to any group of Notes, at any date of determination, the sum of the Principal Amounts of such Notes on such date of determination. Investor applied and tendered a security on XX/XX/XXXX, APPLICATION # XXXX. Capital One Approved the opening of a Savor One account after verifying identity of the Estate and proceeded to give consumer a credit limit of {$300.00}. Consumer continued to request a credit limit increase based on the information provided in Capital Ones SEC filings regarding the rights of its noteholders. Capital One increased the limit to merely {$800.00}, I dont mean to be rude Dear Bankers, but what a slap in the face. On XX/XX/XXXX, Investor tendered payment in the form of endorsed negotiable instrument, in the amount due based on the first bill statement generated, pursuant to 31 C.F.R 328.5-328.7. Security was tendered for Full principal amount to be redeemed in exchange for payment applied to the deposit account. Registered security was sent to Capital Ones Indentured Trustee, XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXXXXXX as stated in Capital Ones XXXX XXXX XXXX SEC filing statements pursuant to the Securities Exchange Act of 1933, Indentured Trustee Act of 1939 and the Bankruptcy Banking Act of 1933. Registered Security was sent Registered Mail Tracking Number RE XXXX XXXX XXXX XXXX XXXX XXXX United States Postal Service. Letter was sent to Investor Relations in XXXX XXXX Certified Mail Tracking Number XXXX XXXX XXXX. Capital One stated that they were closing the Consumers Account due to Fraud Activity and have wrongfully restricted and stated to have closed the Credit Grantors request. This is a False Accusation, there is not Fraud on the Account. You have reported that the account has been paid for in full and is in good standing. Although, Capital One does state in their Cardmember agreement that they can close the account if payments are sent with restrictive language and at their own free will, they also must not violate the Consumers Federally protected rights and they also must honor their Prospectus and other SEC Filings. If not, this is considered Securities Fraud. Capital One owes the Consumer and Investor access to their Securities and shares of the trading of their notes on the secondary market. If Capital One can not resolve this issue by removing the restriction on the account and providing noteholder access to the offerings provided in their SEC filings, Investor complaints will be submitted to the following regulatory authorities, Securities & Exchange Commission, Comptroller of the Currency United States Department of the Treasury XXXX XXXX XXXXXXXX Federal Reserve Bank XXXX XXXX XXXX XXXXXXXX Federal Deposit Insurance Corporation XXXX XXXX XXXX XXXXXXXX as well as IRS FORM XXXX AUDIT to the account. Pursuant to 31 C.F.R 202.6 COLLATERAL OF SECURITY, ( a ) Requirement. Prior to receiving deposits of public money, a depositary authorized to perform services under 202.3 ( b ) must pledge collateral security in the amount required by the Secretary of the Treasury.

( b ) Acceptable security. Types and valuations of acceptable collateral security are addressed in 31 CFR part 380. For a current list of acceptable classes of securities and instruments described in 31 CFR part 380 and their valuations, see the Bureau of the Fiscal Service 's web site at www.publicdebt.treas.gov. 
( c ) Deposits of securities. Unless the Secretary of the Treasury provides otherwise, collateral security under this part must be deposited with the Federal Reserve Bank or Branch of the district in which the depositary is located ( depositaries located in XXXX XXXX and XXXX XXXX XXXX will be considered as being located in the XXXX XXXX XXXX XXXX XXXXXXXX ), or with a custodian or custodians within the United States designated by the Federal Reserve Bank, under terms and conditions prescribed by the Federal Reserve Bank. Securities deposited with a Federal Reserve Bank must be accompanied by a letter stating specifically the purpose for which the securities are being deposited.

( d ) Assignment. A depository that pledges securities which are not negotiable without its endorsement or assignment may, in lieu of placing its unqualified endorsement on each security, furnish an appropriate resolution and irrevocable power of attorney authorizing the Federal Reserve Bank to assign the securities. The resolution and power of attorney shall conform to such terms and conditions as the Federal Reserve Banks shall prescribe. 
( e ) Disposition of principal and interest payments of the pledged securities after a depositary is declared insolvent ( 1 ) General. In the event of the depositary 's insolvency or closure, or in the event of the appointment of a receiver, conservator, liquidator, or other similar officer to terminate its business, the depositary agrees that all principal and interest payments on any security pledged to protect public money due as of the date of the insolvency or closure, or thereafter becoming due, shall be held separate and apart from any other assets and shall constitute a part of the pledged security available to satisfy any claim of the United States, including those not arising out of the depositary relationship. 
( XXXX ) Payment procedures. 
( i ) Subject to the waiver in paragraph ( XXXX ) ( XXXX ) ( iii ) of this section, each depositary ( including, with respect to such depositary, an assignee for the benefit of creditors, a trustee in bankruptcy, or a receiver in equity ) shall immediately remit each payment of principal and/or interest received by it with respect to collateral pledged pursuant to this section to the Federal Reserve Bank of the district, as fiscal agent of the United States , and in any event shall so remit no later than ten days after receipt of such a payment.

( ii ) Subject to the waiver in paragraph ( e ) ( 2 ) ( iii ) of this section, each obligor on a security pledged by a depositary pursuant to this section shall make each payment of principal and/or interest with respect to such security directly to the Federal Reserve Bank of the district, as fiscal agent of the United States . 
( iii ) The requirements of paragraphs ( XXXX ) ( XXXX ) ( i ) and ( ii ) of this section are hereby waived for only so long as a pledging depositary remains solvent. The foregoing waiver is terminated without further action immediately upon the insolvency of a pledging depositary or, if earlier, upon notice by the Treasury of such termination. For the purposes of this paragraph, a depositary is insolvent when, voluntarily or by action of competent authority, it is closed because of present or prospective inability to meet the demands of its depositors or shareholders.

Company response to consumer: Closed with explanation