Consumer complaint received 2025-02-10 00:00:00
Product: Checking or savings account — Checking account
Issue: Closing an account — Company closed your account
Company: CAPITAL ONE FINANCIAL CORPORATION
State: NY

Complaint narrative:
On XX/XX/XXXX, I received an email from Capital One stating that my accounts were being closed due to activity that is inconsistent with typical customer account usage. The email further stated that my accounts would not be reopened, and I would be permanently prohibited from opening any future Capital One accounts.

This decision was made without prior notice, without explanation, and without an opportunity to dispute any alleged issue. Despite my immediate efforts to contact Capital One, I was denied a reason for this closure and was told that the decision was final.

Capital One is Illegally Freezing My Money Not only has Capital One unfairly closed my accounts, but they are also holding my funds hostage, preventing me from accessing my own money. I was informed that any remaining balance would be transferred to an external account within 2-3 business days or mailed via check within 7-10 business days. However, I have no access to my money in the meantime, causing severe financial hardship. 

This action is a direct violation of my consumer rights. Under federal banking laws, a financial institution can not arbitrarily freeze a customers funds without a valid legal reason ( such as a court order, fraud investigation, or government directive ). I have been given no such justification. 

Violation of Federal Consumer Protection Laws Capital Ones actions may violate multiple federal regulations, including : 1. Consumer Financial Protection Act ( CFPA ) of 2010 Prohibits unfair, deceptive, and abusive banking practices, including sudden account closures and withholding of funds without cause.

2. Electronic Fund Transfer Act ( EFTA ) Protects consumers from being unfairly denied access to their own deposits. 
XXXX. Equal Credit Opportunity Act ( ECOA ) If Capital Ones decision was made arbitrarily or in a discriminatory manner, it may constitute a violation of fair banking laws. 

Harm and Damages Capital Ones reckless and unjustified actions have caused me serious financial harm, including : Loss of access to my own money with no timeline or guarantee for when I will receive it. 
Missed bill payments and potential late fees due to frozen funds. 
Severe financial stress caused by the sudden and unexplained closure. 
Potential damage to my banking record if this closure is reported to XXXX, making it difficult for me to bank elsewhere. 

Demands for Immediate Resolution I demand that Capital One : 1. Immediately unfreeze my funds and allow me full access to my money. Holding my money hostage without cause is illegal. 
2. Provide a detailed and specific explanation for the account closure. 
3. Ensure that no negative reports are filed against me in XXXX or other banking databases. 
4. Reconsider their decision and allow me to continue banking with them unless they can provide a legitimate reason for this unjust closure. 

If Capital One fails to release my funds immediately or provide a legally valid explanation, I will escalate this matter further, including : Filing additional complaints with regulatory agencies such as the Office of the Comptroller of the Currency ( OCC ) and the Federal Deposit Insurance Corporation ( FDIC ).

Pursuing legal action for unlawful withholding of funds and deceptive banking practices.

I request that the CFPB investigate Capital Ones unfair and unethical account closure practices, particularly their practice of freezing funds without valid legal justification. 

This is a serious matter, and I demand immediate action. Thank you for your time and assistance in resolving this issue.

Company response to consumer: Closed with explanation