Sept. 12, 2018, 7:33 a.m. by raul
Capital One Bank owes my elderly mother who is 91 years of age $1,800 in interest on her $20, 000 investment…Capital One opened an investment arm a few years back and promoted it to its bank customers. The Financial advisor by the name of Paul Peters met with her at an office at Capital One on 23rd and 9th ave. in December of 2015....My mother entrusted and invested $20,000 of her hard earned money at Capital One. Mr. Paul Peters when asked by me about staying touch wowed he would inform us concerning the investment’s progress or changes before we signed on. I found out recently, inJuly of 2018, that Capital One decided to suddenly shut down its investment arm and lay off Paul Peters in 2017. He never contacted my mother or me, or was he replaced by someone to do that. There are no letters or information sent by Capital One concerning this matter to my mother.. or I.....So, I found out last week, September 3rd, 2018, that the money has been sitting in a brokerage firm collecting only .10% for six quarters which comes out to about $3 a year. …Capital One has breached its fiduciary responsibility with my mother and is liable to pay her fully the sum of the interest for these six quarters at 5.7%. … if this is not resolved within the next three weeks, by the first of October 2018, I will take this to arbitration at the Small claims Court of New York , or before a judge at small claims court, as well as other actions.
Capital One has shown its itself to be irresponsible and corrupt. No wonder it is paying, dictated by court decision, an unprecidented $75million for overcharging on credit card interest rates to its clients….This irresponsible behavior of Capital One with my 91 yr old mother amounts to "elder abuse". My brother who is a financial lawyer will look into seeing about a class action suit with other wronged elderly Capital One investors….As a result, Capital One will be subject to millions in damages and penalties.
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