QUESTION

Can I sue a bank for damaging my credit?

Asked on Jun 29th, 2012 on Business Law - New York
More details to this question:
Capital One sent me a letter demanding my W9 for a bank account which I did not own. They said I was currently in backup withholding and threatened to turn me over to the IRS. I replied saying that I do not have an account, have no plans to open one, and if someone used my name to open this account close it and report it as fraud. Capital One responded by canceling both of my Visa cards. I responded by filing a complaint with the Federal Reserve. The Fed forwarded my complaint to Consumer Fiance. Capital One responded that the account was opened by my landlord to pay interest on my security deposit, all without my knowledge. I responded that they failed to notify me in writing, closed both of my Visa accounts permanently, and still owes me about $25 for a credit balance. I do not know the amount of interest which was earned, but it is likely less than $50 and not worthy of a W9 form. I wish to be compensated for damages to my credit and failure to put any of this in writing.
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1 ANSWER

Litigation Attorney serving Greenwich, CT
Partner at Hilary B. Miller
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It is difficult to understand what Capital One did that was legally wrong. If you read the terms of your account agreements affecting your Visa cards, chances are that they are legally entitled to terminate the accounts at any time for any reason or no reason at all. The bank appears to have acted correctly in asking for documentation regarding an account that someone else opened using your social security number. It's hard to appreciate how a lawsuit against the bank would go anywhere. See an attorney.
Answered on Jun 30th, 2012 at 8:12 PM

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