Capital One Financial | More Illegal Conduct By Banks Excused?

The Market Ticker – More Illegal Conduct By Banks Excused?

Wow man, another story of illegal conduct that is unpunished and excused.

A personal bankruptcy is supposed to cut borrowers loose from lenders and debt collectors, but Capital One Financial Corp.—one of the nation’s largest credit-card issuers—sometimes doesn’t want to let go.


It wasn’t the first time the company went after its customers for debts that had been snuffed out in bankruptcy, even though the practice is illegal. A court-appointed auditor concluded earlier this year that Capital One pursued 15,500 “erroneous claims” seeking money previously erased by a bankruptcy-court judge.

So if I screw 15,000 people — each of them through an illegal act — do I get this?

Handcuffs by genesis

Of course I do.

So why hasn’t Capital One faced a criminal indictment, since this practice is illegal?

That’s a good question, isn’t it?

Capital One, for its part, disputes the number of “erroneous” attempts to collect discharged debt, but doesn’t say what the correct number is. It’s pretty hard to argue, though, that something you do 15,000 times is a mistake, right?

“I want some proof from the company that this was a legitimate error and not a conscious, malevolent effort to go out and collect a debt that’s been discharged,” Judge Houston said in an interview.

Good luck with that Judge.

In the meantime I want to see indictments and handcuffs.

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2 Responses to “Capital One Financial | More Illegal Conduct By Banks Excused?”
  1. Same ol song with the houses. The houses are discharged unsecure debt charged off by the banks and debt collectors are coming after the houses knowing this. Also dischargable at bank ruptcy and no bankruptcy attorney I have seen has attempted to do that , foors me.

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