Checking or savings account -- Managing an account -- Complaint #6279143
Complaint Overview
Complaint ID: 6279143
Company: Capital One Financial Corporation
Product: Checking or savings account
Sub-Product: Other banking product or service
Issue: Managing an account
Sub-Issue: Banking errors
State: Texas
ZIP Code: XXXXX
Date Received: 2022-12-04T12:00:00-05:00
Date Sent to Company: 2022-12-04T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
Federal Government must act fast to pass a law on how the Financial Institutions must disclose the Interest Rates they pay on Savings and CD 's. It is very deceptive when institutions like Capital One advertise their Interest rates on savings and CD 's published as APY and not APR. APY is a function of time period frequency, and the Average consumer is not sophisticate enough to know the difference between the two rates. The True Interest Rate must be advertised in APR, so that Consumer can compare XXXX to XXXX in selecting a Financial institution and a product to invest. Please use CFPB influence and act fast to get this law pass and implemented ASAP. Look forward to hearing your positive response on this matter promptly. Thank you. XXXX XXXX.
Frequently Asked Questions
What is Complaint #6279143 about?
Complaint #6279143 was filed against Capital One Financial Corporation regarding Checking or savings account specifically about Managing an account. It was received by the CFPB on 2022-12-04T12:00:00-05:00.
How did Capital One Financial Corporation respond to this complaint?
The company responded with: "Closed with explanation". The response was timely.
What is the risk level of this complaint?
See the risk assessment section for details on this complaint's risk profile.
How do I file a similar complaint?
You can file a complaint with the CFPB at consumerfinance.gov/complaint. Select the appropriate product category (Checking or savings account) and describe your issue in detail.
Can I see other complaints against Capital One Financial Corporation?
Yes, visit the Capital One Financial Corporation company profile at readthecomplaint.com/company/capital-one-financial-corporation to see all complaints, risk scores, and analysis.
Disclaimer
This analysis is AI-generated based on publicly available CFPB complaint data. It does not constitute financial or legal advice.