Consumer complaint received 2024-11-06 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: TX

Complaint narrative:
On XX/XX/XXXX I received a letter indicating that my Capital One Platinum Mastercard account ending in XXXX 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 ''. I mailed Capital One a properly endorsed registered security and they did not credit my account ending in XXXX. I spoke with the XXXX XXXX ( ID : XXXX ) on XX/XX/XXXX 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 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 15 U.S.C. 1691c and is pursuant to civil liability under 15 U.S.C. 1691k. 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. The XXXX  number indicated the security is being sold over and over and Capital One is receiving a financial benefit from the security I invested into their company with my social security number on it. They also never credited the payment. Per 15 USC 1666d- Treatment of Credit Balances- Whenever a credit balance in excess of { {$1.00} } is created in connection with a consumer credit transaction through ( 1 ) transmittal of funds to a creditor in excess of the total balance due on an account, ( 2 ) rebates of unearned finance charges or insurance premiums, or ( 3 ) amounts otherwise owed to or held for the benefit of an obligor, the creditor shall ( A ) credit the amount of the credit balance to the consumers account ; This is another violation of Federal Law. My dividend payment is supposed to come to me an investor in their company and not for them to steal it and keep it. This constitutes XXXX XXXX that can not be denied. XXXX Forms of endorsement ( a ) when presented by banks ( XXXX ) For payment or exchange placed on a bearer security presented for payment or exchange by a bank should be in certain form. My bearer security was properly endorsed. They have it because I sent it via Registered mail. I also have a copy of it. Capital One stole my security, didn't credit my account, and engages in unfair practices. 

Capital One charged-off my Platinum Mastercard Account ending in XXXX. 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 1099 was filed on the listed account. As far as the inquiries on my credit report, Capital One 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 consent to furnish any information to XXXX, XXXX, XXXX and/or any other third-party institution. Not only has Capital One closed my account without my consent, but Capital One 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 is in Violation according to their own prospectus as well as their XXXX and 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 is a Corporation 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 is merely XXXX XXXX, and a XXXX, which can not speak. Having knowledge from Capital One prospectus reports, I have come to terms, I simply invested into their company. Capital One 's corporation has been disregarding the Trust Indentured Act of 1939 as well as The Securities Exchange Act of 1934. Capital One 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 on several different occasions, Capital One 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 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 use 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.

Company response to consumer: Closed with explanation