Consumer complaint received 2024-03-17 00:00:00
Product: Credit card — General-purpose credit card or charge card
Issue: Incorrect information on your report — Account information incorrect
Company: CAPITAL ONE FINANCIAL CORPORATION
State: CA

Complaint narrative:
Subject : Urgent : Request for Correction of Credit Report - Compliance with Federal Laws - Opportunity to Cure Dear Capital One, I am reaching out to address concerns regarding the accuracy of my credit report as it pertains to my investment. As an investor, I have provided Capital One with an asset-backed security. In accordance with the Fair Credit Reporting Act ( FCRA ), Capital One has violated my federally protected consumer rights under the FCRA Section 602 - There is a need to ensure that consumer reporting agencies exercise their grave responsibilities with fairness, impartiality, and respect for the consumers right to privacy. This means that I have the right to privacy. My credit accounts/reports are non-public personal information that should be protected to avoid situations like this one I am addressing today, pursuant to 15 USC 6801 ( b ) ( 3 ) - Protection of non-public personal information. Under the FCRA Section 604 Permissible purposes of consumer reports states : any consumer reporting agency may furnish a consumer report under the following- ( 2 ) In accordance with the written instructions of the consumer to whom it relates. This means a consumer reporting agency can not furnish an account without written instructions or authority of the consumer. The only way a company can obtain permissible purpose is by a court order or the consent of the consumer. Capital One states that it may report to the credit bureaus, I respectfully decline. I attest and confirm that I was not given clear and conspicuous disclosure of my rights. Without such disclosure Capital One as a financial institution is committing identity theft by reselling my private financial information to a third party- XXXX XXXX XXXX and XXXX. Now that I am aware of my rights, I can properly write an affidavit taking back the promise to pay and taking back my rights to 80 % of the security interest. Under 15 U.S. Code 1666d, whenever a credit balance in excess of { {$1.00} } is created in connection with a consumer credit transaction through amounts otherwise owed to or held for the benefit of an obligor. The creditor shall refund any part of the amount of the remaining balance, upon request of the consumer and make a good faith effort to refund to the consumer by cash, check, or money order any part of the amount of the credit balance remaining in the account for more than six months, except that no further action is required in any case in which the consumers current location is not known by the creditor and can not be traced through the consumers last known address or telephone number. This is the precise reason why Capital One is required to send a billing statement. Capital One is demonstrating security fraud by masking my credit payment as something I am required to pay. I am also aware that my billing statements are not invoices but dividend checks made from the interest from my account. Pursuant to the FCRA, a consumer report does not include any report containing information solely about transactions or experiences between the consumer and the person making the report. Any reporting of late payments or derogatory statuses is a direct violation of 15 USC 1681a ( d ) ( 1 ) as that information pertains to experiences and transactions between myself and Capital One. Within this CFPB complaint, I have taken the necessary steps to inform Capital One about the unjust actions taken against me. I am hoping these actions have been an oversight but Its important to note that any continuation of providing negative information, would constitute a willful and knowing violations of the Fair Credit Reporting Act. Thus, any persistence in reporting derogatory information after being duly notified of improper use without my permission would be a clear violation of federal law. Additionally, I want to make it clear that any action taken by Capital One besides updating my accounts with the following written instructions will be considered willful non-compliance. I am evoking my rights under 15 U.S. Code 1681b ( 2 ), and I am giving clear instructions to furnish my report to XXXX, XXXX and XXXX and update my personal financial information to the following only : Balance- {$0.00}, monthly payment {$0.00}, high limit {$0.00}, utilization 0 % for account number Account number XXXX AND Account number XXXX. 
I appreciate your prompt correction of these errors.

Company response to consumer: Closed with explanation