Consumer complaint received 2024-08-07 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: SC

Complaint narrative:
On XX/XX/year> I received an email indicating that my Capital One XXXX XXXX XXXX was closed. The letter indicated the reason my card was closed was because " activity on this account or other account is not consistent with our account usage and violates Capital One Customer Agreement ''. On XX/XX/year> I phoned Capital One because I mailed them a Billing Error dispute via certified mail and they received it on XXXX 2024. I never received a notice, email or written acknowledgement that they did receive my billing error dispute and that they were investigating it as they are required per XXXX law. I spoke to about XXXX different reps and the customer service representatives are mostly hard to understand. They will tell you that they are recording the call, but won't allow the consumer to record. This is unfair. They held me on the phone for an hour or more transferring me to different reps after putting me in interment XXXX minutes holds, attempting to avoid confirming that they had received my billing error dispute on XX/XX/year>. The very first representative had already told me it was received I sent Capital One properly endorsed registered security around XX/XX/year> and on XX/XX/year> I received an email from Capital One indicating my account was closed. On XX/XX/year> the representative attempted to tell me why my account was closed. Today a male rep stated they closed my account because I sent them a money order. I corrected him and said I never sent you a money order. I mailed you a properly endorsed registered security and you didn't credit my account ending in XXXX nor did you send it back, therefore Capital One stole it and that is securities fraud. 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. He asked me a question and I said I'm not to answer it. Then he got an attitude and told me he was going to deny my billing error dispute right then and there. I told him that I'm not making another payment on the account. I previously paid online and was never late. 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. In my billing error dispute I quoted 16 CFR 433.2 Capital One uses unfair or deceptive acts or practices. Its completely unfair for them to record consumers calls, but the consumer can't record the call. XXXX agents told me they could not continue to talk if I recorded the conservation. The consumer credit contract was not at least XXXX point, bold face, type with the NOTICE ANY HOLDER OF THIS CONSUMER CREDIT CONTRACT IS SUBJECT TO ALL CLAIMS AND DEFENSES WHICH THE DEBTOR COULD ASSERT AGAINST THE SELLER OF GOODS OR SERVICES OBTAINED PURSUANT HERETO OR WITH THE PROCEEDS HEREOF. RECOVERY HEREUNDER BY THE DEBTOR SHALL NOT EXCEED AMOUNTS PAID BY THE DEBTOR HEREUNDER. This notice is required by law. This is XXXX violation. 16CFR 433.1 ( i ). I never received a purchase money loan which is a cash advance in return for a " Finance Charge '' within the meaning of the Truth in Lending Act and Regulation Z, which was applied. 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 Mult-Asset Trust, Capital One XXXX, XXXX and Trust Indenture Agreement on the SEC website XXXX It is securities fraud to assign a CUSIP number to a security and trade/ sell on the secondary market. The CUSIP 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 on time. 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. They have stolen every dividend payment coupon and the value of it that they sent to me every month since the account was first opened and this constitutes Security Fraud that can not be denied.

31CFR328.5 Forms of endorsement ( a ) when presented by banks ( 1 ) 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. I also mailed XXXX today to XXXX NC for the payment due on XX/XX/year>. Capital One stole my security, didn't credit my account and engages in unfair practices. I even wrote XXXX XXXX XXXX. I received a generic unsigned letter for that because no one wants to take responsibility to the massive securities fraud and the criminal acts performed by this Company. They are violating their own Trust Indenture Agreement.

Company response to consumer: Closed with non-monetary relief