What Capital One did:
On January 6th , 2022 Capital One withdrew/ stole $2072.92 from my checking account without my authorization. Under the Fair Credit Reporting Act, banks, in this case Capital One are not allowed to take funds out of my bank account for my credit card balance. The codes specific to this are SS169 (a). It is to prevents this ($$15 USC 166 (h).
There is a federal law that states that credit cards cannot be offset. Federal truth in lending regulations prohibit a bank who is a card issuer from appropriating deposit accounts to pay debt on a card that it issued.
(1) A card issuer may not take any action, either before or after termination of credit card privileges, to offset a cardholder‘s indebtedness arising from a consumer credit transaction under the relevant credit card plan against funds of the cardholder held on deposit with the card issuer.
Capital One Quicksilver Credit card is the company stealing bank funds without authorization.
Ally Checking Account is where funds were taken from without authorization.
The latest billing statement was for $130.00 that was due on Jan. 16 2022. Something is definitely wrong when $2072.92 is used as payment without my knowing. Capital One to my understanding is breaking a federal law that protects credit card holders.
What would you like the company to do to fix the problem?
Return funds to my checking account
How would you rate your experience with Capital One?
⭐️ (1/5 stars)
Submitted by: Anonymous in California | Read more Capital One complaints
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