If you look at all the major banks giving out mortgages and credit cards you will see on the bill the problem facing the American consumer. The banks are the problem and they need to stop extorting people off of fraudulent billing, financing, and late fees like Capital One Bank.

Capital Ones stock price lacks the real finical stability to hold the weight of water; this company’s stock should be dumped back too the company for a profit. Capital One has various consumer management problems, vary bad PR and costumer service. These factors are some of the main problem with the mortgage and banking crisis, this company finds unrealistic ways to make money off of the basic consumer, with fraudulent charges, unrealistic fixed rates on mortgages, and the financing of late fees or a charge that is financed by a credit card that is made by the company of the credit card issuer. ** ##

It is in the low $50’s and it really should be in the low $10’s for the practicing of credit defamation on the American consumer and helping the credit/mortgage crisis in America

Consumer Protection needs to be implemented into place over these types of banks like Capital One, and major Banks need to pay the same price as the basic consumer does with a rating system like the Credit bureaus give when he or she applies for credit, mortgages, or for banking needs. And to have harassing companies like Midland Credit Management, Allied Interstate, and The Westmoreland Agency calling them 5 times a day while harassing them at work, at home, on the holidays, and the weekends just like how Capital Ones Collations agencies do.

Capital Ones price is to high for a company that is next in line on the credit melt down and mortgage crisis

The Federal Trade Commission and the federal financial regulatory agencies or now in talks to implement section 312 of the Fair and Accurate Credit Transaction Act of 2003, which amends The Fair Credit Reporting Act.

http://www.ftc.gov/os/statutes/fcrajump.shtm

http://www.privacyrights.org/fs/fs6a-facta.htm

Links to complaints and laws,

Complaints about Capital One http://www.consumeraffairs.com/credit_cards/capital_one.htm

http://www.google.com/search?q=Capital+One+Bank++%22Complaints%22&rls=com.microsoft:en-us&ie=UTF-8&oe=UTF-8&startIndex=&startPage=1

Title 12--Banks and Banking --- http://www.access.gpo.gov/nara/cfr/waisidx_04/12cfr226_04.html

Fair credit billing Act --- http://www.fdic.gov/regulations/laws/rules/6500-500.html#6500chap4cb

Fair Debt Collection Practices Act --- http://www.fdic.gov/regulations/laws/rules/6500-1300.html#6500804

Index to relating laws --- http://www.fdic.gov/regulations/laws/rules/6500-100.html

Colorado laws on late charges http://www2.michie.com/colorado/lpext.dll/Infobase4/1/886b/8881/89dc/8a19/8a55?f=templates&fn=document-frame.htm&2.0#JD_5-2-203

** TITLE 12--BANKS AND BANKING

CHAPTER II--FEDERAL RESERVE SYSTEM

PART 226_TRUTH IN LENDING

Subpart A_General

Sec. 226.4 Finance charge.

(a) Definition. The finance charge is the cost of consumer credit as a dollar amount. It includes any charge payable directly or indirectly by the consumer and imposed directly or indirectly by the creditor as an incident to or a condition of the extension of credit. It does not include any charge of a type payable in a comparable cash transaction.

(1) Charges by third parties. The finance charge includes fees and amounts charged by someone other than the creditor, unless otherwise excluded under this section, if the creditor:

(i) Requires the use of a third party as a condition of or an incident to the extension of credit, even if the consumer can choose the third party; or

(ii) Retains a portion of the third-party charge, to the extent of the portion retained.

(2) Special rule; closing agent charges. Fees charged by a third party that conducts the loan closing (such as a settlement agent, attorney, or escrow or title company) are finance charges only if the creditor:

(i) Requires the particular services for which the consumer is charged;

(ii) Requires the imposition of the charge; or

(iii) Retains a portion of the third-party charge, to the extent of the portion retained.

(3) Special rule; mortgage broker fees. Fees charged by a mortgage broker (including fees paid by the consumer directly to the broker or to the creditor for delivery to the broker) are finance charges even if the creditor does not require the consumer to use a mortgage broker and even if the creditor does not retain any portion of the charge.

(b) Example of finance charge. The finance charge includes the following types of charges, except for charges specifically excluded by paragraphs (c) through (e) of this section:

(1) Interest, time price differential, and any amount payable under an add-on or discount system of additional charges.

(2) Service, transaction, activity, and carrying charges, including any charge imposed on a checking or other transaction account to the extent that the charge exceeds the charge for a similar account without a credit feature.

(3) Points, loan fees, assumption fees, finder's fees, and similar charges.

(4) Appraisal, investigation, and credit reportfees.

(5) Premiums or other charges for any guarantee or insurance protecting the creditor against the consumer's default or other credit loss.

(6) Charges imposed on a creditor by another person for purchasing or accepting a consumer's obligation, if the consumer is required to pay the charges in cash, as an addition to the obligation, or as a deduction from the proceeds of the obligation.

(7) Premiums or other charges for credit life, accident, health, or loss-of-income insurance, written in connection with a credit transaction.

(8) Premiums or other charges for insurance against loss of or damage to property, or against liability arising out of the ownership or use of property, written in connection with a credit transaction.

(9) Discounts for the purpose of inducing payment by a means other than the use of credit.

(10) Debt cancellation fees. Charges or premiums paid for debt cancellation coverage written in connection with a credit transaction, whether or not the debt cancellation coverage is insurance under applicable law.

(c) Charges excluded from the finance charge. The following charges are not finance charges:

(1) Application fees charged to all applicants for credit, whether or not credit is actually extended.

(2) Charges for actual unanticipated late payment, for exceeding a credit limit, or for delinquency, default, or a similar occurrence.

(3) Charges imposed by a financial institution for paying items that overdraw an account, unless the payment of such items and the imposition
of the charge were previously agreed upon in writing.

(4) Fees charged for participation in a credit plan, whether assessed on an annual or other periodic basis.