February 19, 2014

Capital One disclosure statement concerns customers

Feb. 20, 2014 – Customers of Capital One have raised concerns about the bank's credit card disclosure contract, which states that the financial institution is allowed to contact its customers in any manner it chooses, including, in some cases, by a "personal visit."

The New York Timesreported that HSBC customers, who are currently being incorporated into Capital One after the bank was purchased in 2011, noticed the statement in the contract and were alarmed.

Capital One did issue an explanation: "Capital One does not visit our cardholders, nor do we send debt collectors to their homes or work," the Times quoted. Capital One is now reviewing the wording of its credit card disclosure insert.