Capital One Financial Corporation

A court-supervised audit arising from a U.S. Trustee Program settlement found that Capital One Bank filed approximately 15,500 erroneous bankruptcy claims with a face value of about $24.7 million for debts that had previously been discharged in bankruptcy. The auditor determined that Capital One received approximately $2.35 million on roughly 5,100 of those erroneous claims. Capital One refunded those distributions to consumers or bankruptcy estates and reimbursed related fees and expenses. The settlement also required auditing and correction of the process that caused the erroneous claims. Primary source: https://www.justice.gov/archives/ust/press-releases/capital-one-bank-usa-na-will-refund-more-2-million-monies-improperly-collected-consumers

The U.S. Department of Justice reached an approximately $12 million settlement with Capital One in July 2012 to resolve allegations that the bank violated the Servicemembers Civil Relief Act. DOJ alleged conduct including wrongful foreclosures, improper repossessions of motor vehicles, wrongful default judgments, improper denials of the statutory six-percent interest-rate cap and insufficient interest-rate benefits on protected accounts. The settlement required approximately $7 million in damages to affected servicemembers and a $5 million fund for servicemembers who did not receive appropriate SCRA benefits, together with policy reforms designed to prevent future violations. Primary source: https://www.justice.gov/archives/opa/pr/justice-department-reaches-12-million-settlement-resolve-violations-servicemembers-civil

DOJ reached an approximately $12 million settlement with Capital One over alleged Servicemembers Civil Relief Act violations, including wrongful foreclosures, improper vehicle repossessions, wrongful court judgments and failures to provide the statutory 6 percent interest-rate protection. Source: https://www.justice.gov/archives/opa/pr/justice-department-reaches-12-million-settlement-resolve-violations-servicemembers-civil

DOJ's U.S. Trustee Program found that Capital One had filed more than 15,500 erroneous bankruptcy claims with a face value of nearly $25 million for debts previously discharged. An independent audit found Capital One received about $2.35 million on roughly 5,100 erroneous claims, which it refunded. Source: https://www.justice.gov/archives/ust/press-releases/us-trustee-program-announces-successful-conclusion-nationwide-settlement-capital-one-bank

The Consumer Financial Protection Bureau announced its first public enforcement action in July 2012 against Capital One Bank over deceptive marketing of credit-card add-on products. The CFPB found that vendors working for Capital One used deceptive tactics to pressure or mislead consumers into paying for products such as payment protection and credit monitoring. Some consumers were misled about product costs, eligibility and benefits, and some were enrolled despite being ineligible to receive certain benefits. Capital One was required to refund approximately $140 million to about two million customers and pay a $25 million civil penalty to the CFPB. Primary source: https://www.consumerfinance.gov/archive/newsroom/cfpb-capital-one-probe/

CFPB found deceptive marketing tactics by Capital One vendors that pressured or misled consumers into buying credit-card add-on products such as payment protection and credit monitoring. Capital One was ordered to refund about $140 million to roughly two million consumers and pay a $25 million CFPB penalty; the OCC separately assessed a $35 million penalty. Source: https://www.consumerfinance.gov/archive/newsroom/cfpb-capital-one-probe/