Consumer complaint received 2026-04-09 00:00:00
Product: Checking or savings account — Checking account
Issue: Managing an account — Funds not handled or disbursed as instructed
Company: CAPITAL ONE FINANCIAL CORPORATION
State: NY

Complaint narrative:
I am filing this complaint against Capital One as a depository bank. This complaint is not about the Small Business Administration loan program or any federal collection decision. It concerns Capital Ones removal and handling of funds deposited into my account, its delay in transmitting those funds after removing them from my account, and its refusal to provide records concerning my former account. To the extent I previously submitted a complaint to the CFPB that was understood as relating to an SBA loan or federal debt collection, I want to clarify that this complaint concerns only Capital Ones conduct as a bank. On or about XX/XX/XXXX, the SBA deposited {$15000.00} into my Capital One account ending in XXXX. In or around XX/XX/XXXX, Capital One informed me that the account was not a business account, that the deposited XXXX funds would be returned, and that the account would be closed. On XX/XX/XXXX, Capital One removed {$15000.00} from my account. Capital One later closed the account and issued me a check for the remaining non-SBA funds. After Capital One removed the {$15000.00}, I never had use, possession, or control of those funds. Based on what Capital One told me, I reasonably believed the funds had been promptly returned. I later learned that the funds were not actually transmitted back for more than two years. According to information later provided, the SBA did not receive the funds until XX/XX/XXXX. As a result of that delay, I have faced demands for payment of an alleged balance consisting of interest that accrued while the funds were no longer in my possession and after Capital One had already removed them from my account. I am not asking the CFPB to decide whether the SBA may collect or to review any SBA program decision. I am asking the CFPB to address Capital Ones banking conduct : removing the funds, apparently failing to transmit them for more than two years, and refusing to provide records explaining what happened. After learning that the funds had not been promptly returned, I repeatedly contacted Capital One by phone and made multiple in-person branch visits to request records and information regarding my former account and Capital Ones handling of these funds. I asked for documentation showing when Capital One received the funds, when and why it removed them from my account, where the funds were held afterward, when they were actually transmitted, and why there was a delay of more than two years. Capital One refused to provide meaningful assistance or documentation, even though these records concern my own former account and funds that were deposited into and removed from that account. Capital Ones conduct has caused substantial harm. It represented that the funds would be returned, removed them from my account, apparently did not transmit them for more than two years, and then refused to provide records needed to determine what happened and protect my interests.

Company response to consumer: Closed with explanation