If breaking US Laws and allowing hackers to steal personal info, including Social Security numbers, for over 100 million Americans is not enough, Capital One wants you to suffer the indignity of having to call their customer service number and struggle to understand the English from customer service call centers based in non-English speaking counties. I bet Jennifer Garner does not get that bonus in her wallet. It would be nice if Cap One would create a special phone number, based in the US, for Americans whose data was stolen from Cap One servers to call in and get service and help clean this mess up.
Capital One admitted to the U.S. Treasury a willful violation of anti-money laundering requirements, engaging in violations of the Bank Secrecy Act, as enforced by The Financial Crimes Enforcement Network.
https://www.americanbanker.com/news/capital-one-fined-290m-for-willful-anti-money-laundering-failures
When things get tough - a pandemic and mass unemployment - it is nice to know who you can count on. If Capital One is in your wallet odds are you just had your credit limits cut. Capital One responds to the pandemic and American job losses by cutting credit card borrowing limits for its cardmembers.
These cuts are disheartening as this is occurring at time when many Americans need more help, not less, but don't count on a helping hand from Capital One. Some users have reported Capital One has cut their credit limits in half. The amount of money you thought you had in your wallet is less than half of what it one was. Don't count on Capital One - or don't bank on Capital One (sorry, that pun was too easy.) letting you use your credit card like you used to use it.
Here is the story in the news:
https://www.cbsnews.com/news/capital-one-lowering-credit-card-spending-limits/
https://www.bloomberg.com/news/articles/2020-08-28/capital-one-cuts-card-limits-amid-u-s-impasse-on-jobless-aid
https://www.marketplace.org/2020/08/28/capital-one-credit-card-borrowing-limits-cut/s/
Did your personal data get stolen?
If Capital One is in your wallet your data got stolen & hacked
That's in your wallet?
Capital One got hacked and the personal information - including social security numbers, income and bank account information from over 100,000,000 credit card applications was stolen from their servers. Nice work Capital One. Over 100 million people's info - that is really large number - 106 million to be precise. More actually if we include all the other times Capital One has been hacked. Yup, it has happened before. And before that too.
What did they do? Of course they said they were sorry - “I am deeply sorry for what has happened,” Richard D. Fairbank, Capital One's billionaire CEO said in a statement. “I sincerely apologize for the understandable worry this incident must be causing those affected, and I am committed to making it right.”
The apology sounds sincere but this is not the first time Capital One's data got hacked - it seems Capital One's data get hacked every few years and the best Capital One can do is apologize when it happens. Wait, they did fire the head of Security - but why stop there? Why not fire all the top brass - it happened on their watch right? But heck doing that might bring about real change and stop the data breaches from happening again and again.
Did Dick Fairbank follow up with bi-weekly emails updating the situation? Like the Delta CEO, who since Corona kicked in, sends out a semi-weekly emails updating Delta's efforts to keep flyers safe (no middle seat passengers, fogging planes, wearing masks, etc) - nope Dick did nothing like that. I know because I never got those emails from him.
Don't take my word for it - here is the story in the news:
NY Times
BBC
USA Today
Wash Post
More to come soon - including what it is like to be called by First Source Advantage, Capital One's debt collectors during the pandemic.
My views and experiences of the highs and lows of calling Capital One and their collection partner - First Source Advantage, LLC of Amhert, NY
First Source Advantage employees working from home have access to Capital One credit card information and Capital One Cardholder Personal Information
First Source Advantage to me the fist time I talked with First Source Advantage they sounded like ex-cons, sitting at home drinking beer in a comfy chair, watching TV and talking about my debt with Capital One. I kid you not I heard a TV in the background the first time I called First Source Advantage - followed by "Can I get your social security number" - yup, First Source Advantage is giving out personal information on Capital One members to their workers who are working at home - what is to stop these workers from writing down social security numbers, bank information and what ever else they want and then re-visiting it later after the TV is off - I mean after the work-day is done? Is this legal?
What if the First Source Advantage employees don't live alone - what if they have roommates - or teenagers - these people could potentially have access to my personal information. It could happen and who would know - Capital One? Capital One can't keep info they have themselves safe, how can they stop a potentially renegade First Source Advantage employee? But shouldn't there be some failsafe procedures here, some protection for consumers with their personal information? But hey, that is just my opinion based on 4 conversations with First Source Advantage - and yeah they just "sound like ex-cons drinking beer at home in a comfy chair" waiting for my call - that might not be reality - but it does sound fishy when you talk to First Source Advantage. Thanks Capital One for continually sharing my personal information - you share it in so many creative ways it is almost entertaining. Except its my life - my personal data. Thanks Dick Fairbank.
How to stop Firstsource Advantage Harassment:
https://www.lemberglaw.com/firstsource-advantage-llc-collections-complaints-calls/
My Quest to pay my credit card bill directly to Capital One - and not First Source Advantage. I only had the card for close to 15 years, so I undestand what a big risk I am for Cap One - I have more value in miles than what I owe them in dollars - yup that's in my wallet.
ThatsInYourWallet.com
That's in your Wallet - Thats in your Wallet