@SanDAgo wrote:
The CFPB closed the case on the basis that Capital One responded the complaint. I understand this to mean that CFPB won't get involved further and it is necessary to file a legal claim against Capital One.
If Capital One has done this to others, I will file a class action lawsuit regarding unfair business practices for pre-approving an existing and current client, charging a $395 annual fee, and then stating that they cannot verify my identity (when I still have an on-going and current Quicksilver credit card with them). Wouldn't it make sense to close the Quicksilver account immediatley if there is fraud concern on the identity of the same customer?
It is implausible for anyone to say Capital One is acting reasonable and not engaging in dodgy business practices.
I could have told you that's how the CFPB would respond. Unlike a lot of folks think (or even say) I know from much experience as both a consumer and a merchant that they in reality are little more than a soundboard who simply takes reports and ask the other party to respond. Once that takes place and they respond the CFPB nearly always, if not always closes the case and leaves any further actions to the complaintant. They are worthless as a consumer advocate.
Good luck with that. You'll be hard pressed to find enough other folks this has happened to to have the number of complaintants it takes and lawyers will require for such action. Plus Cap1 will bury your lawyer in paperwork simply to drive the legal fees on your end up. It's a game big business plays and regardless of the cause Cap1's Rules you agreed to when you signed the App give them the clear advantage.
@Dalmus wrote:Assuming all facts are as stated by OP...
They say that the account was not opened by the OP because they can't verify the identity.
If that's the case, then the money they took from the OP in the form of the AMF is, by their own admission, money stolen from the OP (remember, their claim is that the OP is not the one that opened the account, but the money was most certainly taken from the OP).
If the OP has the disposable time and income to take this to court, it would be fun to watch CapOne be forced to admit the "real" reason they restricted the account, or explain why they are refusing to return stolen money (by their definition) to its rightful owner.
Again, assuming OP is giving us all the pertinent facts.
OP didn't complete all the documentation that CO requested. OP didn't submit their entire bankstatement, only the first page.
For that reason alone CO wins because OP didn't comply with their request.
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@redpat wrote:
@Dalmus wrote:Assuming all facts are as stated by OP...
They say that the account was not opened by the OP because they can't verify the identity.
If that's the case, then the money they took from the OP in the form of the AMF is, by their own admission, money stolen from the OP (remember, their claim is that the OP is not the one that opened the account, but the money was most certainly taken from the OP).
If the OP has the disposable time and income to take this to court, it would be fun to watch CapOne be forced to admit the "real" reason they restricted the account, or explain why they are refusing to return stolen money (by their definition) to its rightful owner.
Again, assuming OP is giving us all the pertinent facts.
OP didn't complete all the documentation that CO requested. OP didn't submit their entire bankstatement, only the first page.
For that reason alone CO wins because OP didn't comply with their request.
Again, trusting that the information as given is factual....
Read the OP again. He submitted a complete bank statement. It just happened to be a one page statement.
I frequently get one page statements for accounts that have little or no activity.
I think their refusal to allow him to submit any other statements make it pretty clear they aren't really concerned about his identity. They just don't want to actually go on record by saying what the real reason is.
@GatorGuy wrote:Capital One business model is not to open new accounts and then charge an AF fee and close your account. Especially for existing customers.They want you to keep and use your account for as long as possible for them to make far more money on you.
Of course businesses can make mistakes but when you supposedly submitted the requested information it is usually easy to reverse course. I imagine there is more to this story.
Banks make paperwork errors all the time. There are other examples in the forums where the bank makes an error and swears up and down they didn't, only to figure out out several days/weeks later.
Mortgage lenders were notorious for "losing" paperwork during the loan modification craze.
Now, of course there could be more to the story. But Capital One had a history of being a slave to its computer algorithms. So I don't find it a stretch that somebody screwed up, assumed the bank statement was incomplete because it was one page and now the computer won't let them change the status.
@Remedios wrote:@SanDAgo here is where I'm getting confused
You're willing to engage in litigation for the cost of AF, but you're not mentioning money you spent and paid the bill.
Assuming everything happened the way you stated and this is simply a case where Cap One is suspecting fraudulent account opening, how come you're glossing over $4000 you spent and paid?
Why not offer them entire bank statement showing money leaving your account, so if info on DL (name/address) matches bank account statement, it's painfully obvious you opened account and paid from your account.
When you applied, were you in USA or not?
Did all transactions happened abroad starting with account opening?
If you stay abroad for prolonged period of time, did you bother with offering proof of temporary residence?
I really do not understand fixation on AF refund and ignoring money you spent then wanting to start all over with a new Venture X.
As far as Capital One being "aggressive" towards consumers in BK cases and litigation related to charge offs... both of those instances mean someone left them holding the bag, someone didn't meet their obligations, and their responsibility as a lender doesn't extend to emotional support while experiencing a loss.
Should you get bored, read in rebuilding and BK forum, you'd be hard pressed to find cases where Cap One didn't incur a loss.
Amounts range from $200 on secured cards to $Enough-To-Buy-A-Car
You're willing to go through litigation for a little under $400, I don't think it's unreasonable for them to do same for tens of thousands of dollars.
I suppose if you decide to purse legal action, you should find out what triggered account restriction during civil discovery proceedings.
ALL....every bit of this.
It just seems like there's something we're not being told in the original post. Had the OP complied with Cap1's request in full this Post/Complaint wouldn't even exist. I suspect it all involves the overseas charges and how and where and the timeline they took place in some way.
@bigseegar wrote:
@Remedios wrote:@SanDAgo here is where I'm getting confused
You're willing to engage in litigation for the cost of AF, but you're not mentioning money you spent and paid the bill.
Assuming everything happened the way you stated and this is simply a case where Cap One is suspecting fraudulent account opening, how come you're glossing over $4000 you spent and paid?
Why not offer them entire bank statement showing money leaving your account, so if info on DL (name/address) matches bank account statement, it's painfully obvious you opened account and paid from your account.
When you applied, were you in USA or not?
Did all transactions happened abroad starting with account opening?
If you stay abroad for prolonged period of time, did you bother with offering proof of temporary residence?
I really do not understand fixation on AF refund and ignoring money you spent then wanting to start all over with a new Venture X.
As far as Capital One being "aggressive" towards consumers in BK cases and litigation related to charge offs... both of those instances mean someone left them holding the bag, someone didn't meet their obligations, and their responsibility as a lender doesn't extend to emotional support while experiencing a loss.
Should you get bored, read in rebuilding and BK forum, you'd be hard pressed to find cases where Cap One didn't incur a loss.
Amounts range from $200 on secured cards to $Enough-To-Buy-A-Car
You're willing to go through litigation for a little under $400, I don't think it's unreasonable for them to do same for tens of thousands of dollars.
I suppose if you decide to purse legal action, you should find out what triggered account restriction during civil discovery proceedings.
ALL....every bit of this.
It just seems like there's something we're not being told in the original post. Had the OP complied with Cap1's request in full this Post/Complaint wouldn't even exist. I suspect it all involves the overseas charges and how and where and the timeline they took place in some way.
All valid points.
But again, I'll point out that the OP *DID* comply... First they said they didn't like the photocopy of the DL provided, then they claimed that the bank statement he provided wasn't complete.
It'll be interesting to see if this progresses.