Consumer complaint received 2025-03-24 00:00:00
Product: Credit reporting or other personal consumer reports — Credit reporting
Issue: Incorrect information on your report — Account information incorrect
Company: CAPITAL ONE FINANCIAL CORPORATION
State: OH

Complaint narrative:
I have sent Capital One XXXX letters and they have not given me any answers. I have returned the credit card to the company and they have still not closed the account as requested. Capital One has committed fraud and a one sided contract making it null and void. 

REFUSED FOR CAUSE WITHOUT DISHONOR XXXX XXXX Enclosed please note my returned credit card issued by your bank XXXX. I demand proof of its cancellation. In addition I demand that all related computer-generated bookkeeping entries concerning my account be destroyed. Failure on your part to comply with my demands will result in court action to compel performance of said demands. Further, be advised that any action by you or your agents in any attempt to collect on this account will result in immediate court action. 

My actions are taken in a timely manner with this refusal for cause, pursuant to UCC 3-501.

Refusal for Cause Without Dishonor, UCC 3-501 ( b ) ( 3 ) states : Without dishonoring the instrument, the party to whom presentment is made may ( i ) return the instrument for lack of a necessary endorsement, or ( ii ) refuse payment or acceptance for failure of the presentment to comply with the terms of the instrument, an agreement of the parties, or other applicable law or rule. 

The reasons for my refusal for cause are as follow : Constructive Fraud When applying for my credit card, I was under the mistaken belief that Capital One Bank would be loaning me depositors money, which it received from its depositors or investors. I have found by researching relevant case law on the matter and reading XXXX XXXX XXXX, published by the Federal Reserve Bank XXXX XXXX, that Capital One Bank created the money I borrowed by using my promise to pay. It generated computer entries to my account, listing the loan as a credit, in effect, creating money out of thin air. 

In none of my transactions with Capital One Bank did any XXXX or employee notify me that your bank is creating money by a journal entry ( out of thin air ). After discovering this, I am prepared to proceed against Capital One Bank for bank fraud. The banks transactions relating to me lacked XXXX necessary elements of a valid contract. 



Perhaps you should be aware of the following : United States XXXX, XXXX XXXX, Section XXXX, Paragraph XXXX confers upon a bank the power to lend its money, not its credit. In XXXX XXXX Bank XXXX XXXX XXXX XXXX, XXXX XXXX ; XXXX S.E. XXXX ( XXXX ), the court stated : ( T ) he provisions referred to do not give power to a national bank to guarantee the payment of the obligations of others solely for their benefit, nor is such power incidental of the business of banking. A bank can lend its money but not its credit. 

Again in : XXXX XXXX XXXX XXXX v XXXX XXXX Bank XXXX XXXX, XXXX XXXX XXXX ; XXXX XXXX XXXX, ( XXXX ) It has been settled beyond controversy that a national bank, under federal law, being limited in its power and capacity, can not lend its credit by guaranteeing the debt of another. All such contracts being entered into by its officers are ultra vires and not binding upon the corporation. See also XXXX Bank XXXX XXXX v XXXX, XXXX F XXXX ; XXXX Lns XXXX ( XXXX ). 

Capital One Bank did not notify me that it created money by journal entry ( out of thin air ), defined as bank credit. To do so would have disclosed that there was no consideration from Capital One Bank to me. 

A lawful consideration must exist and be tendered, to support the note. See XXXX XXXX XXXX XXXX v XXXX XXXX, XXXX XXXX XXXX, XXXX XXXX XXXX ( XXXX ). 

If there is no full disclosure and no consideration, there is no contract. 

XXXX Capital One Bank manner of transacting business has made me a debt slave, in violation of the Thirteenth Amendment to the Constitution of the United States, which expressly forbids involuntary servitude. The United States Supreme Court addressed involuntary servitude, also called peonage, in XXXX XXXX XXXX, XXXX XXXX XXXX, XXXX ; XXXX S.Ct. XXXX ; XXXX XXXX XXXX. XXXX ( XXXX ), when it said : Peonage is sometimes classified as voluntary or involuntary, but this implies simply a difference in the mode of origin, but none of the character of the servitude. The one exists where the debtor voluntarily contracts to enter the service of his creditor. The other is forced upon the debtor by some provision of law. 

In addition, Capital One Banks method of creating money out of thin air and charging interest upon the transaction is a violation of the Biblical law of just weights and measures. ( Capital One Bank created in moments money which takes me years of labor to pay off. ( Capital One Bank made me a debt slave by controlling my labor when it loaned me bank credit and not money. 

BE NOTICED that I no longer consent to accepting Capital One Banks demands upon me for my money. Your manner in the conduct of your banking business is in direct violation of the laws of contracts, the Constitution of the United States of America, Gods law and my civil rights.

Revocation of Signature By my refusal of ( Capital One Banks statement in a timely manner pursuant to UCC 3-501, I hereby revoke, rescind, and repudiate my signature on any application presented to Capital One Bank XXXX The original application was fraudulent on its face, as full disclosure was not provided. The application did not inform me that Capital One Bank was loaning me bank credit created out of thin air. 

Had Capital One Bank so disclosed this fact to me, that I was in fact borrowing bank credit, I would have known that the element of consideration was missing from the contract and would have not entered into that agreement. It is a well-established principle of law that fraud has no statute of limitations and that its presence vitiates any and every contract or agreement. I make demand upon your bank to cancel our agreement and to return to me every dollar of my labor plus all interest I have ever paid to you for the duration of the agreement. I will contact the vendors directly and pay them for the products or services I purchased from them. 

CONSPIRACY You and your fellow bankers have been allowed to defraud the American public for many years. This can be explained only by the knowledge that the Federal Reserve Banks are a privately owned, operating for profit, corporation. Because of your inter-relationship and practices, all banks in this country are to be considered in law as one and the same, in that each bank in the Federal Reserve System is obligated to accept the checks of other member banks as if they issued it. I find it unconscionable that Capital One Bank has been able to transfer my labor to its balance sheet by mere bookkeeping entries into its computer. This egregious violation of law and my civil rights shocks the conscience of all law-abiding citizens.

Company response to consumer: Closed with non-monetary relief