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capital one bank in chicago illinois

Senior Associate, Process Management- Bank Ops. 2 Locations. R121197 Small Business Banking Credit Analyst I (Work from Home) Chicago, IL. R129254. Investment Banking - Equity Capital Markets Summer Analyst 2022 (New York). William Blair Chicago, IL. Type. Full-Time. BMO offers a wide range of personal banking services including mortgages, credit cards, For starters, you'll get rewarded in more ways than one.

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Capital One Bank in Chicago Near You Location

4 Capital One Bank branches were found in Chicago, IL. To find the nearest Capital One branch please use the search feature below.

Found 4 Capital One Bank branches in Chicago, Illinois

Capital One
  • 100 S State StreetChicago, IL, 60603
  • Sunday: 9:00 AM - 6:00 PM
  • (312) 279-1047
  • Branch services: Get Cash, Learn About New Accounts, Transfer Funds, Activate Atm Card, Manage Accounts, Make A Deposit, Check Balance
Capital One
  • 1465 E 53Rd St, Chicago, IL, 60615
  • Sunday: 8:00 AM - 6:00 PM
  • (773) 358-4129
  • Branch services: Get Cash, Learn About New Accounts, Transfer Funds, Activate Atm Card, Manage Accounts, Make A Deposit, Check Balance
Capital One
  • 1538 N Clybourn Ave., Chicago, IL, 60610
  • Sunday: 8:00 AM - 6:00 PM
  • (312) 279-8060
  • Branch services: Get Cash, Learn About New Accounts, Transfer Funds, Activate Atm Card, Capital one bank in chicago illinois Accounts, Make A Deposit, Check Balance
Capital One
  • 3435 N Southport Ave, Chicago, Where can i find amazon gift cards, 60657
  • Sunday: 9:00 AM - 5:00 PM
  • (312) 279-8061
  • Branch services: Get Cash, Learn About New Accounts, Transfer Funds, Activate Atm Card, Manage Accounts, Make A Deposit, Check Balance

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Other Banks in Chicago Near You

To find the nearest Capital One branch please enter the address, ZIP code or turn on geolocation on your device and we will automatically show the nearest to your current location Capital One branch.

FAQ

  • Is Capital One open on weekends in Chicago?

    Most Capital One branches are open on Saturday (9 A.M. - 12 A.M.) and closed on Sunday (except ATMs).

  • Do I have to visit the Capital One branch in Chicago, IL to apply for a credit card?

    No, just send your credit card application via the official Capital One official site or through our website.

  • When Capital One branches are open on weekdays?

    Most Capital One branches are open from 9 A.M. till 5 P.M. on weekdays.


Capital One in Chicago, Illinois

Источник: https://myfin.us/bank/il/chicago/capital-one

Demand 360 login Banks by State

Ever since the founding of the Bank of North America in 1781, banking has played a critical role in facilitating the American Dream. These institutions provide indispensable monetary services, ranging from accepting deposits to offering loans. Credit is king in the United States, and without high-quality financial institutions, countless Americans would struggle to acquire vehicles, housing, and other essential items.

However, like pretty much all of the nation’s older institutions, banks have also played a significant part in America’s racist past. Racial discrimination in the banking industry and financial system has targeted African Americans, and challenges ending discrimination persist today. Black-owned banks arose as an alternative to larger institutions to provide greater access to banking services as well as an opportunity to support local communities.

According to the Federal Deposit Insurance Corporation, a Minority Depository Institution (MDI) is “.a federal insured depository institution for which (1) 51 percent or more of the voting stock is owned by minority individuals; or (2) a majority of the board of directors is minority and the community that the institution serves is predominantly minority. Ownership must be by U.S. citizens or permanent legal U.S. residents to be counted in determining minority ownership.” Of the 22 Black-owned banks featured in this article, two fall into the latter category.

For the purposes of this article, Black-owned and managed credit unions that serve the Black community have been included to provide the most complete picture of America’s Black financial institutions. The article uses the term “Black-owned” in this broad sense, recognizing that stockholders own for-profit banks and members own credit unions.

Key Takeaways

  • Today—including credit unions—there are 44 Black-owned financial institutions in the United States. Taken together, they have approximately $6.82 billion in assets in total.
  • Black-owned banks provide customers not just access to the financial resources they need, but the chance to invest in the financial health and well-being of their community.
  • Black-owned banks also play a critical role in fighting modern-day systemic racism in the financial sector.
  • Critics of Black-owned for-profit banks have posited that true financial justice requires institutions, such as not-for-profit credit unions, that are separate from a financial system rooted in racism and exploitation.
  • Of the 44 Black-owned financial institutions in the country, 22 are not-for-profit credit unions.

Background and History of Black-Owned Banks

Black-owned banks didn’t exist until more than a century after the Bank of North America first opened its doors. Prior to the chartering of the first Black-owned bank in 1888, Congress and President Lincoln established the Freedman’s Savings Bank in 1865. As part of the Freedman’s Bureau, this institution was designed to help newly freed African Americans navigate the U.S. financial system.

Despite Congress voting to close the Freedman’s Bureau in 1872, the bank continued to operate. In 1874, Frederick Douglass took over as the bank’s D.C. branch director, and he found the place to be rife with corruption and risky investments. Despite Douglass investing $10,000 of his own money in the bank in an attempt to save it, Freedman’s Savings went bankrupt later that same year. Although the Freedman’s Savings Bank doesn’t fit the modern criteria of a Black-owned bank, it represents a critical first step.

The first officially chartered Black-owned bank, the True Reformers Bank, was founded on March 2, 1888, by the Rev. William Washington Browne. A former slave and Union Army officer, Browne was founder of the Grand Fountain United Order of True Reformers fraternal organization. The True Reformers Bank came about when Browne and his organization faced financial hardships while trying to establish a new branch in Virginia. Unable to manage the order’s money without arousing suspicion from paranoid and prejudiced locals, Browne founded the True Reformers Bank so that the organization’s finances would be free of scrutiny from white people.

The bank opened its doors in 1889 and went from a small operation in Browne’s house to an institution strong enough to survive the financial panic of 1893. Although the True Reformers Bank continued to operate after Browne’s death in 1897, problems were beginning to develop by 1900. Under its new president, the Rev. William Lee Taylor, branches were poorly regulated, unsecured loans were made, and an embezzlement scandal cost most account holders their savings. By 1910, the State Corporation Commission had ordered the bank to be closed.

As the story of the True Reformers Bank was playing out, other Black-owned banks were also getting their start in the U.S. The Capitol Savings Bank of Washington, D.C., opened its doors on Oct. 17, 1888, roughly six months before the True Reformers Bank. Capitol Savings also managed to survive the financial panic of 1893, though it later closed in 1902.

Between 1888 and 1934, more than 134 Black-owned financial institutions were founded, predominantly located in Southern states. Their numbers dwindled during the Great Depression, leaving nine by 1930. It wasn’t until the civil rights movement that a resurgence took place, raising their numbers to 50 by 1976.

By 1988, the savings and loan crisis had wiped out 35 Black-owned banks. The start of the most recent decline came in 2001, during the early 2000s recession, which rapidly accelerated once the Great Recession began. There are 44 Black-owned financial institutions, including credit unions, left today.

“You can’t separate Black history from American history,” says Tyrone Ross, community director of Altruist, a software platform provider for financial advisors. “We’ve always been well adept and versed in financial education and the ability to be entrepreneurs. It’s just been stripped from us. So it’s OK to write these articles—or have panels or whatever—but let’s start with the history first so people go, ‘Oh, crap. It really was stripped from them, and they’re just trying to get it back.’”

Modern-Day Discrimination

In 2016, the net worth of a white family was nearly 10 times higher on average than that of a Black family. This is a result of inequality, discrimination, racism, and differences in power and opportunity compounding throughout America’s history. It also is why the diminishing number of Black-owned banks is especially of concern, given the role these institutions play in fighting modern-day systemic racism in the financial sector.

Consider redlining. This unethical and now illegal practice is used to block off access to important services for residents of certain neighborhoods based on their race or ethnicity. The Civil Rights Act of 1964, which prohibits discrimination on the basis of race, color, religion, sex, and national origin, was a start. And yet, although the Fair Housing Act of 1968 and the Community Reinvestment Act (CRA) of 1977 were both intended to eliminate redlining, this kind of discrimination is still seen today.

For instance, 68.1% of loans made between 2012 and 2018 for housing purchases in Chicago went to predominantly white areas; 8.1% went to predominantly Black areas. Banks also lent more money to predominantly white neighborhoods than they did to every predominantly Black neighborhood combined. This disparity is even starker when looking at individual lenders, with JPMorgan Chase lending 41 times more money in white neighborhoods than Black ones.

Chicago is far from the only place where redlining occurs. In 2018, people of color in 61 cities were more likely to be denied home loans than white residents. And if homeowners aren’t moving into—and investing in—a neighborhood, it means capital isn’t flowing into the community, which leads to poverty and crime having an inescapable presence in the area.

“One in five Black Americans now is unbanked. When you look at our poverty rates, our lack of ownership, lack of home ownership, that all goes back to economic empowerment,” Ross explains. “Economic empowerment starts with banking.”

The Importance of Black-Owned Banks

To understand why Black-owned banks matter, it’s critical to recognize the role banks play in financial life. A common service banks provide is access to a checking account, allowing for the safe storage of an individual’s funds, typically in exchange for a minimal fee. In addition to accepting monetary deposits, banks also furnish loans for both individuals and businesses looking to finance crucial purchases. Banks also offer mortgages for real estate purchases. Many banks issue credit cards, which are valuable tools for building the credit history necessary to receive most loans.

Outside of providing financial services, a number of banks have also launched programs on financial literacy for low- and moderate-income communities. It’s difficult, if not impossible, to imagine thriving in the modern economy without taking advantage of the aid that a bank can provide. And if access to these types of services is constantly denied to certain groups, it’s easy to see how these groups may face more financial difficulties than others.

Black-owned banks offer an alternative for residents who have been consistently discriminated against by other financial institutions. They have typically provided more money peoples bank nc mortgage rates borrowers living in low- and moderate-income (LMI) census tracts in the last 14 years than other banks. Black-owned banks are also more willing to tolerate higher levels of risk than alternative institutions. Our research found that in 2016, 67% of mortgages made by Black-owned banks were either FHA mortgages—which typically serve riskier borrowers—or mortgages held “in portfolio,” meaning they are liable to the risk of the borrower defaulting.

Additionally, Black-owned banks tend to focus their lending on small businesses, nonprofits, and Black homebuyers. As of 2018, all Black-owned banks are community banks; these institutions are dedicated to supporting the economies of the communities in which they scripture verse fear not for i am with you. Even during difficult times, Black-owned banks have stuck by their customers. During the 2007–2008 financial crisis, despite a 69% drop in all mortgage lending to Black borrowers, the number of mortgages that Black-owned banks provided jose tequilas virginia beach 57%.

“So there’s lack of lending, there’s lack of funding, there’s lack of access to the ability to acquire assets and build wealth,” says Ross. “The Black community has for years been afraid of banking with traditional institutions. A lot of them live in banking deserts where there are no banks, which is also why you have credit unions, check cashing places, and payday loans.”

Without Black-owned banks, countless vulnerable consumers could be forced to rely on high-interest loans from pawn shops and payday lenders for their financing. What’s more, Black-owned banks provide customers not just access to the financial resources they need, but the chance to invest in the financial health and wellbeing of their community and fellow Americans.

“I think we have a responsibility now to realize that—if you really want to be grassroots, and you really want to help Black Americans—get that money in Black banks and then have those Black banks fund the people,” Ross says.

Other Alternatives capital one bank in chicago illinois Community Funding

Not everyone sees Black-owned, for-profit banks as the solution. Critics argue that true financial justice requires institutions that are entirely separate from a financial system rooted in racism and exploitation.

“I’ve been very critical of for-profit Black banks and the capitalist logic that governs them,” says Prof. Guy Mount, assistant professor of African American history at Auburn University. “In my opinion, member-owned credit unions and nonprofit co-ops are the way forward for Black communities hoping to not only survive within capitalism, but build a viable Black economic alternative to it.” In fact, that choice is currently available to consumers. Of the 44 Black-owned financial institutions in the U.S.—all listed below—21 are credit unions.

Other critics have taken this concept even further. In The Color of Money: Black Banks and the Racial Wealth Gap, Mehrsa Baradaran, professor of law at the University of California Irvine School of Law, posits that those in power have pushed the idea of Black-owned banks as a diversionary tactic whenever the African American community demanded more direct solutions to the racial wealth gap. For instance, although the Freedman’s Bank remains a critical facet of Black history, the Freedman’s Bureau originally proposed providing newly freed slaves with an allotment of land—they received a bank instead.

More recently, when civil rights leaders began calling for a redistribution of wealth, President Richard Nixon co-opted the rhetoric of that same movement to create a civil rights platform centered around “Black capitalism.” He wasn’t the only president to support the idea of banking over financial support. President Bill Clinton introduced legislation with the aim of promoting “community empowerment” via banking. Across party lines, Presidents George W. Bush and Barack Obama supported and upheld Clinton’s infrastructure. Former President Donald Trump had also made similar promises during his time in office.

Baradaran further argues that—as it is nearly impossible for a segregated community to keep its wealth entirely self-contained—Black-owned banks may actually facilitate the flow of money out of African American communities and into the white economy.

Prof. Mount sees it the same way, “By emerging themselves within a white-governed capitalist marketplace, Black banks are facilitating the very extraction of wealth from the communities they purport to serve,” he says.

Black-Owned Banks: State-by-State Breakdown

While the number of Black-owned financial institutions may have declined from their peak, they cumulatively have a not-insignificant presence. According to Bank Black USA, historical Black-owned bank assets have totaled over $7.6 billion. As of Feb. 4, 2021, the 41 Black-owned banks and credit unions in the U.S. have approximately $6.82 billion in assets. And although 28 states have no Black-owned financial institutions within their borders, several organizations have a presence across the U.S. because of their partnerships with major ATM networks. Additionally, of the 41 Black-owned financial institutions in the country, half are not-for-profit credit unions.

The majority of Black-owned institutions offer both traditional brick-and-mortar branches and online/mobile services. Even OneUnited Bank, originally an Internet-only bank, now has multiple physical locations across the U.S. Ensuring online accessibility is a smart move considering that, in 2017, approximately 17.7% of African-American consumers were more likely to use mobile banking as their primary method of accessing their accounts. Currently, Columbia Savings and Loan is the sole institution without any online or mobile banking services.

Below: a list of Black-owned banks and credit unions in the U.S., in alphabetical order.

1st Choice Credit Union

Founded in 1946, the Hospital Authority Credit Union was created to provide financial services to employees of Grady Hospital. In 1991, the organization became known as 1st Choice Credit Union.

  • Branches: Auburn Avenue Administrative Office (Atlanta, Ga.) and Grady Memorial Hospital (Atlanta, Ga.)
  • ATMs: Crestview Health & Rehabilitation Center (Atlanta, Ga.) and Ponce De Leon Center (Atlanta, Ga.)
  • States: Georgia
  • Services: Personal and business checking and savings, in addition to loans (personal, mortgage, etc.)
  • Assets: $30.77 million
  • Availability: Brick-and-mortar and online

Alamerica Bank

Alamerica Bank was originally organized by a group of prominent Birmingham, Ala., community leaders on Jan. 28, 2000. Alamerica achieved operational profitability after six months of operation.

  • Branches: The Alamerica Bank Building (Birmingham, Ala.)
  • ATMs: N/A
  • States: Alabama
  • Services: Deposit services (business and personal accounts), loan services (commercial and personal loans), Internet banking, image statements, and MasterMoney debit cards
  • Assets: $15.36 million
  • Availability: Brick-and-mortar and online

Broadway Federal Bank

The Broadway Federal Bank is a subsidiary of Broadway Financial Corporation, a bank holding company located in Los Angeles, Calif. Formerly known as the Broadway Federal Savings and Loan Association, founded in 1946, the original building was destroyed by a fire on April 30, 1992. In December 1995, the organization was converted from a federally chartered mutual savings association to a federally chartered stock savings bank, hence the new name.

  • Branches: Mid-Wilshire Branch (Los Angeles, Calif.), Inglewood Branch (Inglewood, Calif.), and Exposition Park Branch (Los Angeles, Calif.)
  • ATMs: Part of the MoneyPass network
  • States: California
  • Services: Personal and business accounts, credit cards, and loan products
  • Assets: $497.03 million
  • Availability: Brick-and-mortar and online

Brookland Federal Credit Union

Founded in 1999, the Brookland Federal Credit Union is a not-for-profit financial cooperative that provides financial services to members of Brookland Baptist Church and their immediate family members. If you join Brookland Federal, you and your family have a lifetime membership. north central sales Brookland Federal Credit Union (West Columbia, S.C.)

  • ATMs: N/A
  • States: South Carolina
  • Services: Savings, checking, loans, and other services (financial literacy, guaranteed auto protection, etc.)
  • Assets: $3.40 million
  • Availability: Brick-and-mortar and online
  • Carver Federal Savings Bank

    The Carver Federal Savings Bank was founded in 1948 to serve African American communities with limited access to mainstream financial services. The majority of its branches and ATMs are located in low- to moderate-income neighborhoods. Carver Federal Savings Bank is one of the two banks that are considered “Black-operated” instead of Black-owned.

    • Branches: Atlantic Terminal Branch (Brooklyn, N.Y.), Bedford-Stuyvesant — Restoration Plaza Branch (Brooklyn, N.Y.), Crown Heights Branch (Brooklyn, N.Y.), Flatbush Branch (Brooklyn, N.Y.), and St Albans Branch (Jamaica, N.Y.), 125th Street Branch (New York City, N.Y.), and Malcolm X Boulevard Branch (New York City, N.Y.)
    • ATMs: Malcolm X Boulevard Branch (Brooklyn, N.Y.) and 125th Street Branch (New York City, N.Y.)
    • States: New York
    • Services: Personal and business banking, loans, and community cash
    • Assets: $673.05 million
    • Availability: Brick-and-mortar and online

    Carver State Bank

    Established on Feb. 23, 1927, the Georgia Savings and Realty Corporation was a small, private bank as well as a real estate investment and management company. In 1947, the original institution was converted to a state bank and became known as the Carver Savings Bank. By 1962, Carver had become a full-service commercial bank, thus its name was changed once more to the Carver State Bank.

    • Branches: Main Office (Savannah, Ga.) and Skidaway Branch (Savannah, Ga.)
    • ATMs: Main Office (Savannah, Ga.), Skidaway Branch (Savannah, Ga.), and Hilton Head International Airport (Savannah, Ga.)
    • States: Georgia
    • Services: Personal accounts (checking and savings), business accounts, loans, development programs, and other services (cashier’s checks, money orders, etc.)
    • Assets: $48.39 million
    • Availability: Brick-and-mortar and online

    Citizens Bank

    In 1904, the One Cent Savings Bank became the first minority-owned bank in Tennessee. The institution’s name was changed to the Citizens Savings Bank & Trust Co. in 1920. Citizens Bank is the oldest, continuously operating Black-owned bank in the U.S.

    • Branches: Memphis Winchester Road Branch (Memphis, Tenn.) and Main Office (Nashville, Tenn.)
    • ATMs: Main Office (Nashville, Tenn.)
    • States: Tennessee
    • Services: Personal and business banking (checking and savings), credit cards, and loans (personal, business, etc.)
    • Assets: $100 million
    • Availability: Brick-and-mortar and online

    Citizens Trust Bank

    In 1921, the Citizens Trust Bank was created to serve the African American citizens of Atlanta. Today, the bank plays an active role in providing sponsorship support for multiple community organizations.

    • Branches: Birmingham (Birmingham, Ala.), Eutaw Branch (Eutaw, Ala.), Cascade Branch (Atlanta, Ga.), Corporate Headquarters (Atlanta, Ga.), Westside Branch (Atlanta, Ga.), East Point Branch (East Point, Ga.), and Rockbridge Branch (Stone Mountain, Ga.)
    • ATMs: hotels near university at buffalo Inn ATM (Atlanta, Ga.), Westside ATM (Atlanta, Ga.), South Dekalb Mall ATM (Decatur, Ga.), Lithonia ATM (Lithonia, Ga.), Rockbridge Plaza ATM (Stone Mountain, Ga.), Stone Mountain ATM (Stone Mountain, Ga.), and Panola ATM (Stonecrest, Ga.)
    • States: Alabama and Georgia
    • Services: Banking (savings, checking, etc.) and borrowing (loans, credit cards, etc.) services 
    • Assets: $536.65 million
    • Availability: Online and brick-and-mortar

    Columbia Savings & Loan

    Columbia Savings & Loan has served Milwaukee’s inner city, particularly its minority population, since 1924.

    • Branches: Columbia Savings & Loan Association (Milwaukee, Wis.)
    • ATMs: N/A
    • States: Wisconsin
    • Services: Mortgages, church loans, and CDs/IRAs
    • Assets: $24.41 million
    • Availability: Brick-and-mortar only

    Commonwealth National Bank

    Founded in 1976, the Commonwealth National Bank is a full-service nationally chartered commercial institution. Commonwealth is the sole bank headquartered in Mobile, out of the 45 banks doing business there. In addition to being the only Minority Depository Institution (MDI) in Mobile, it is one of two in Alabama.

    • Branches: Main Office Branch (Mobile, Ala.) and Crichton Branch (Mobile, Ala.)
    • ATMs: Main Office Branch (Mobile, Ala.), Crichton Branch (Mobile, Ala.), any Publix Super Market ATM, and any PNC Bank ATM
    • States: Alabama
    • Services: Consumer and business services, in addition to loans
    • Assets: $55.06 million
    • Availability: Brick-and-mortar and online

    Community Owned Federal Credit Union

    In 1966, the Community Owned Federal Credit Union was founded to provide low-income communities in Johns Island and part of Charleston with financial services typically denied to them by mainstream institutions. Membership has since grown to include the entire Charleston area.

    • Branches: Community Owned Federal Credit Union (Charleston, S.C.)
    • ATMs: N/A
    • States: South Carolina
    • Services: Primary savings account, loans, and other services (direct and payroll deposit, in addition to credit workshops)
    • Assets: $6.54 million
    • Availability: Brick-and-mortar and online

    Credit Union of Atlanta

    Founded in 1928, the Credit Union of Atlanta remained stable and secure throughout the Great Depression. Any profits earned are used to secure better discover online banking bonus for the institution’s members.

    • Branches: Main Office (Atlanta, Ga.) and Pryor Street Lending Center (Atlanta, Ga.)
    • ATMs: Atlanta Detention Center (Atlanta, Ga.), Atlanta Public Safety Annex (Atlanta, Ga.), Credit Union of Atlanta (Atlanta, Ga.), and Pryor Street Lending Center (Atlanta, Ga.), in addition to any ATMs in the MoneyPass and STAR networks
    • States: Georgia
    • Services: Personal savings and checking, business checking, credit builder and personal loans, and payment protection
    • Assets: $77.91 million
    • Availability: Brick-and-mortar and online

    Faith Community United Credit Union

    Originally chartered in 1952 as Second Mount Sinai Baptist Church Credit Union, Faith Community United Credit Union became a Community Development Credit Union (CDCU) in 1991. Faith is one of the largest minority-owned Capital one bank in chicago illinois Unions in Ohio, and it is available to anyone who lives, works, worships, or attend school in Cuyahoga County as well as their family, business, and organization. Membership is also possible through a Select Employee Group (SEG).

    • Branches: Faith Community United Credit Union (Cleveland, Ohio)
    • ATMs: N/A
    • States: Ohio
    • Services: Deposit services, loan services, insurance, and other services
    • Assets: $18.01 million
    • Availability: Brick-and-mortar and online

    Faith Cooperative Credit Union

    The story of the Faith Cooperative Credit Union is a tale of two different organizations. St. John Federal Credit Union was founded in 1959. It became known as the Faith Cooperative Credit Union after it was integrated with the Friendship-West Baptist Church’s vision of a microloan bank.

    • Branches: Administrative Offices (Dallas, Texas)
    • ATMs: One located “near the Banquet Hall”
    • States: Texas
    • Services: Savings, loans, and gap protection
    • Assets: $1.67 million
    • Availability: Brick-and-mortar and online

    FAMU Federal Credit Union

    On May 8, 1935, six individuals were convinced to deposit $50 to acquire a federal credit union charter, resulting in the founding of the Florida A&M College Employees Federal Credit Union. By 1953, the organization renamed to Florida A&M University Federal Credit Union due to its location on the FAMU campus.

    • Branches: Office (Tallahassee, Fla.)
    • ATMs: One located in the “first drive-thru lane”as well asany ATMs that are part of the American Express, CULIANCE, The Exchange, Honors, Member Access, Plus, Presto, Publix, Walmart, and “other Credit Unions with the participating listed networks”
    • States: Florida
    • Services: Accounts (checking, savings, IRA), Rattler debit and VISA credit cards, loans, wire transfers, and other services (notary services, bill payments, etc.)
    • Assets: $22.85 million
    • Availability: Brick-and-mortar and online

    First Independence Bank

    In business since May 11, 1970, the First Independence Bank has served the Detroit Metropolitan area for 50 years. First Independence is the sole African American‐owned bank headquartered in Michigan, in addition to being one of two banks headquartered in Detroit.

    • Branches: Clinton Township Branch (Clinton Township, Mich.), Main Office Branch (Detroit, Mich.), and Seven Mile Branch (Detroit, Mich.)
    • ATMs: Garfield Branch (Clinton Township, Mich.), 1st Floor International Building (Detroit, Mich.), City County Building (Detroit, Mich.), Livernois (Detroit, Mich.), and Main Office Branch (Detroit, Mich.), Seven Mile Branch (Detroit, Mich.), in addition to “any nationwide . Fifth Third, TCF, or Chemical Bank ATM . in the Metro Detroit area”
    • States: Michigan
    • Services: Consumer and business services, in addition to loans
    • Assets: $290.57 million
    • Availability: Brick-and-mortar and online

    First Legacy Community Credit Union

    The School Workers Federal Credit Union was founded by a group of educators in Feb. 14, 1941. On Jan. 1, 2020, First Legacy Community Credit Union merged with the Self-Help Federal Credit Union and now operates as a division of Self-Help.

    • Branches: First Legacy Community Credit Union (Charlotte, N.C.)
    • ATMs: Part of the CO-OP/Covera ATM network
    • States: North Carolina
    • Services: Checking, savings, loans, and other services
    • Assets: $29.33 million
    • Availability: Brick-and-mortar and online

    First Security Bank

    The Security Trust and Savings Bank first opened for business in 1903. Twenty-six years later, it merged with the First National Bank of Charles City, creating the First Security Bank & Trust.

    • Branches: Aredale (Aredale, Iowa), Charles City Branch (Charles City, Iowa), Dumont Branch (Dumont, Iowa), Hampton Branch (Hampton, Iowa), Ionia Branch (Ionia, Iowa), Manly Branch (Manly, Iowa), Marble Rock Branch (Marble Rock, Iowa), Nora Springs Branch (Nora Springs, Iowa), Riceville Branch (Riceville, Iowa), Rockford Branch (Rockford, Iowa), Rockwell Branch (Rockwell, Iowa), Rudd Branch (Rudd, Iowa), and Thornton Branch (Thornton, Iowa)
    • ATMs: Charles City Branch (Charles City, Iowa), Manly Branch (Manly, Iowa), Marble Rock Branch (Marble Rock, Iowa), Nora Springs Branch (Nora Springs, Iowa), Riceville Branch (Riceville, Iowa), Rockford Branch (Rockford, Iowa), Rockwell Branch (Rockwell, Iowa), and Thornton Branch (Thornton, Iowa)
    • States: Iowa
    • Services: Personal (checking, savings, etc.), business (checking, savings, etc.), and lending (personal and auto loans, mortgage and home equity, etc.)
    • Assets: $564.98 million
    • Availability: Brick-and-mortar and online

    GN Bank

    In 1934—after working closely with the Federal Home Loan Bank of Chicago—13 African American men founded Illinois Service Federal to provide a savings and loan association for Black Chicagoans. The institution was acquired by Groupe Ndoum in 2016, which led to its name change to GN Bank in 2018.

    • Branches: Main Branch (Chicago, Ill.) and Chatham Office (Chicago, Ill.)
    • ATMs: Main Branch (Chicago, Ill.) and Chatham Office (Chicago, Ill.), in addition to any ATMs in the STAR network
    • States: Illinois
    • Services: Personal (checking, savings, and credit cards) and small business services (checking, lending, credit cards)
    • Assets: $133 million
    • Availability: Brick-and-mortar and online

    Greater Kinston Credit Union

    The Greater Kinston Credit Union was founded in 1952 and provides a variety of loans and how to activate walmart prepaid debit card accounts. People who live, work, worship, or attend functions in Lenoir, Greene, Jones, Craven, and Pitt counties are eligible for membership.

    • Branches: Branch Office (Kinston, N.C.)
    • ATMs: Part of the CashPoints network
    • States: North Carolina
    • Services: Debit and credit cards; deposit (checking, savings, etc.), nonprofit, and youth accounts; mortgage and personal lending; and other services (automated services, branch services, etc.)
    • Assets: $12.91 million
    • Availability: Brick-and-mortar and online

    Hill District Federal Credit Union

    The Hill District Federal Credit Union got its start in 1970 and has provided financial services to its members for 50 years. People who live, work, or worship in the Hill District—as well as members of an organization that provides economic assistance in the same area—are eligible to join this institution.

    • Branches: Hill District Federal Credit Union (Pittsburgh, Pa.)
    • ATMs: N/A
    • States: Pennsylvania
    • Services: Debit and gift cards, savings, checking, loans, other services (money orders, financial literacy classes, etc.)
    • Assets: $7.79 million
    • Availability: Brick-and-mortar and online

    Hope Credit Union

    In 1995, members of the Anderson United Methodist Church organized the Hope Federal Credit Union to help low-income Jackson, Miss., residents with asset development, cooperation, and self-empowerment. Hope has since spread across the Deep South through its sponsors and by merging with other financial organizations, with cyber monday amazon 2019 date most recent being the Tri-Rivers Federal Credit Union in 2007. In June 2020, Netflix invested $10 million into Hope as part of its $100 million initiative to support economic opportunities for Black communities.

    • Branches: ArbaStreet Branch (Montgomery, Ala.), McGehee Road Branch (Montgomery, Ala.), College Station Branch (College Station, Ark.), Little Rock Branch (Little Rock, Ark.), Pine Bluff Branch (Pine Bluff, Ark.), West Memphis Branch (West Memphis, Ark.), Central City Branch (New Orleans, La.), Hotels near university at buffalo Fields Branch (New Orleans, La.), Michoud Assembly Facility Branch (New Orleans, La.), Mississippi Coast Branch (Biloxi, Miss.), Drew Branch (Drew, Miss.), Greenville Branch (Greenville, Miss.), Itta Bena Branch (Itta Bena, Miss.), Medical Mall Branch (Jackson, Miss.), University Boulevard Branch (Jackson, Miss.), Louisville Branch (Louisville, Miss.), Macon Branch (Macon, Miss.), Moorhead Branch (Moorhead, Miss.), Robinsonville Branch (Robinsonville, Miss.), Shaw Branch (Shaw, Miss.), Terry MS Branch (Terry, Miss.), Utica Branch (Utica, Miss.), West Point Branch (West Point, Miss.), Jackson Branch (Jackson, Tenn.), Crosstown Branch (Memphis, Tenn.), Harvester Lane Branch (Memphis, Tenn.), Madison Avenue Branch (Memphis, Tenn.), and Ridgeway Branch (Memphis, Tenn.), in addition to any credit unions in the Shared Branching network.
    • ATMs: Pine Bluff Branch (Pine Bluff, Ark.), West Memphis Branch (West Memphis, Ark.), Central City Branch (New Orleans, La.), Elysian Fields Branch (New Orleans, La.), Mississippi Coast Branch (Biloxi, Miss.), Drew Branch (Drew, Miss.), Greenville Branch (Greenville, Miss.), Medical Mall Branch (Jackson, Miss.), University Boulevard Branch (Jackson, Miss.), Robinsonville Branch (Robinsonville, Miss.), Shaw Branch (Shaw, Miss.), Terry MS Branch (Terry, Miss.), Jackson Branch (Jackson, Tenn.), Harvester Lane Branch (Memphis, Tenn.), Madison Avenue Branch (Memphis, Tenn.), and Ridgeway Branch (Memphis, Tenn.)
    • States: Alabama, Arkansas, Louisiana, Mississippi, and Tennessee
    • Services: Personal (checking and wealth-building accounts, personal loans, credit cards, etc.) and business (checking and loans) banking, in addition to transformational deposits
    • Assets: www mypremiercreditcard com balance million
    • Availability: Brick-and-mortar and online

    Howard University Employees How to close my bank of america savings account online Credit Union

    Originally chartered on Oct. 11, 1935, the Howard University Employees Federal Credit Union provides financial services to employees of Howard University and their family members. Those who join Howard University Employees FCU have a lifetime membership.

    • Branches: C B Powell Building (Washington, D.C.)
    • ATMs: Part of the CO-OP and CU Here networks
    • Locations: Washington, D.C.
    • Services: Accounts (savings, checking, etc.) and loans
    • Assets: $10 million
    • Availability: Brick-and-mortar and online (home loans only)

    Industrial Bank

    Industrial Bank first opened on Aug. 20, 1934, and is one of the larger Black-owned banks in the U.S. In addition to a wide variety of financial services, Industrial Bank also offers free financial education programs.

    • Branches: Harlem Banking Center (New York City, N.Y.), Bergen Street Banking Center (Newark, N.J.), Halsey Street Banking Center (Newark, N.J.), Anacostia Gateway Banking Center (Washington, D.C.), Tarrant county property lien search Street Banking Center (Washington, D.C.), Forestville Banking Center (Washington, D.C.), Georgia Avenue Banking Center (Washington, D.C.), J.H. Mitchell Banking Center (Washington, D.C.), Oxon Hill Banking Center (Washington, D.C.), and U Street Banking Center (Washington, D.C.)
    • ATMs: Harlem Office (New York City, N.Y.), Bergen Street Office (Newark, N.J.), Halsey Street Office (Newark, N.J.), Anacostia Gateway Office (Washington, D.C.), Ben’s Chili Bowl (Washington, D.C.), DC Court of Appeals (Washington, D.C.), DC Superior Court (2) (Washington, D.C.), F Street Office (Washington, D.C.), Forestville Office (Washington, D.C.), Georgia Avenue Office (Washington, D.C.), J.H. Mitchell Office (Washington, D.C.), Nationals Park (Washington, D.C.), Oxon Hill Office (Washington, D.C.), and U Street Office (Washington, D.C.), in addition to any ATMs in the Allpoint network
    • States: New Jersey, New York, and Washington, D.C.
    • Services: Personal (loans, checking, etc.) and business (services, loans, etc.) services
    • Assets: $432 million
    • Availability: Brick-and-mortar and online 

    Liberty Bank

    Liberty Bank was originally chartered in New Orleans in 1972. After acquiring the United Bank and Trust Company in 2009, its service grew across the Greater New Orleans area. Liberty Bank is the second-largest Black-owned bank in physical footprint, with branches in eight states.

    • Branches: Montgomery Liberty Bank (Montgomery, Ala.), Tuskegee Liberty Bank (Tuskegee, Ala.), Liberty Bank Forest Park (Forest Park, Ill.), Kansas City Liberty Bank (Kansas City, Kan.), Louisville Liberty Bank (Louisville, Ky.), Southdowns Liberty Bank (Baton Rouge, La.), Southern Heights Liberty Bank (Baton Rouge, La.), Canal Street Liberty Bank (New Orleans, La.), Crowder Blvd Liberty Bank (New Orleans, La.), Franklin Ave Liberty Bank (New Orleans, La.), General DeGaulle Liberty Bank (New Orleans, La.), No way jose pigeon forge menu Blvd Liberty Bank (New Orleans, La.), Woodward Ave Liberty Bank (Detroit, Mich.), Jackson Liberty Bank home remedies for sore throat and chest pain, Miss.), and Kansas City Liberty Bank (Kansas City, Mo.)
    • ATMs: Montgomery Liberty Bank (Montgomery, Ala.), Tuskegee Liberty Bank (Tuskegee, Ala.), Liberty Bank Forest Park (Forest Park, Ill.), 4850 State Street (Kansas City, Kan.), Southdowns Liberty Bank (Baton Rouge, La.), Southern Heights Liberty Bank (Baton Rouge, La.), 910-B Decatur Street (New Orleans, La.), 2800 Gravier Street (New Orleans, La.), American Can (New Orleans, La.), Canal Street Liberty Bank (New Orleans, La.), City Hall (New Orleans, La.), Crowder Blvd Liberty Bank (New Orleans, La.), Dillard — Rosenwald Hall (New Orleans, La.), Franklin Rouses (New Orleans, La.), French Market (New Orleans, La.), General DeGaulle Liberty Bank (New Orleans, La.), Gentilly Blvd Liberty Bank (New Orleans, La.), Lafon Nursing Facility (New Orleans, La.), Lockheed Martin Buildings 102 & 350 (New Orleans, La.), Orleans Sheriff (New Orleans, La.), Xavier University (2) (New Orleans, La.), Jackson Evers International Airport (Jackson, Miss.), Jackson Liberty Bank (Jackson, Miss.), Student Center (Jackson, Miss.), Tougaloo College (Jackson, Miss.), and Union Station (Jackson, Miss.)
    • States: Alabama, Illinois, Kansas, Kentucky, Louisiana, Michigan, Mississippi, and Missouri
    • Services: Personal (checking, savings, etc.), business (checking, savings, etc.), and institutional (cash management, corporate financing, etc.) services
    • Assets: $756.77 million
    • Availability: Brick-and-mortar and online

    Mechanics & Farmers Bank

    Founded in 1907 by nine businessmen, the Mechanics & Farmers Bank is a state-chartered commercial bank. By 1935, M&F Bank became the first lending institution in North Carolina to receive FHA certification. Mechanics & Farmers merged with Fraternal Bank & Trust in 1921 and acquired Mutual Community Savings Bank in 2008.

    • Branches: Charlotte (Charlotte, N.C.), Corporate Headquarters (Durham, N.C.), Durham Branch — Durham-Chapel Hill Boulevard (Durham, N.C.), Greensboro (Greensboro, N.C.), Raleigh Branch — Rock Quarry Road capital one closing branches, N.C.), Winston-Salem (Winston-Salem, N.C.)
    • ATMs: Durham Branch (Durham, N.C.) and Raleigh Branch — East Hargett Street (Raleigh, N.C.)
    • States: North Carolina
    • Services: Personal (checking and savings accounts, loans, etc.) and business (commercial checking and savings, loans, etc.) services, in addition to wealth management
    • Assets: $316.45 million
    • Availability: Brick-and-mortar and online

    Mount Olive Baptist Church Federal Credit Union

    It received its Federal Charter on Oct. 21, 1997. The Mount Olive Baptist Church Federal Credit Union is a faith-based, not-for-profit financial institution. Mount Olive Baptist Church members and their immediate families are eligible to join this organization.

    • Branches: Mount Olive Baptist Church FCU city bank lubbock texas phone number, Texas)
    • ATMs: N/A
    • States: Texas
    • Services: Loans (auto, unsecured, etc.), savings accounts, direct deposits, and wire transfers
    • Assets: $8.36 million
    • Availability: Brick-and-mortar and online

    Oak Cliff Christian Federal Credit Union

    Officially chartered on Sept. 22, 2008, the Oak Cliff Christian Federal Credit Union is a Christian-based financial institution sponsored by the Oak Cliff Bible Fellowship. Members, employees, students, or family of the Oak Cliff Bible Fellowship (and its subsidiaries) are eligible to join the organization.

    • Branches: Oak Cliff Christian FCU (Dallas, Texas)
    • ATMs: N/A
    • States: Texas
    • Services: Loans, financial products (IRAs, money market, etc.), direct deposit, money orders, and credit reports
    • Assets: $7.34 million
    • Availability: Brick-and-mortar and online

    Omega Psi Phi Fraternity Federal Credit Union

    Founded in 1986, the Omega Psi Phi Fraternity Federal Credit Union is open to members of the fraternity, including its chapters, districts, and other related organizations, and their families, in addition to employees of both the fraternity and credit union itself.

    • Branches: Omega Psi Phi Fraternity Federal Credit Union c/o CAMO (Toccoa, Ga.)
    • ATMs: N/A
    • States: Georgia
    • Services: Accounts (single, joint, etc.), share draft checking, loans, and credit cards
    • Assets: $2.35 million
    • Availability: Brick-and-mortar and online

    OneUnited Bank

    OneUnited Bank was the first online-only Black-owned bank and is the largest Black-owned bank in the U.S. Originally founded in 1968 as Unity Bank and Trust Company, OneUnited has financed more than $100 million in loans thus far, predominantly in low- to moderate-income communities.

    “Everyone is talking about OneUnited Bank now, but what they’re not focusing on with OneUnited Bank is they’re heavily engaged in financial education and financial literacy in the cities that need it most,” Tyrone Ross, community director of Altruist, explains. “So I feel like right now, when you support OneUnited, again you get those end roads into their programs they already have instituted to provide access to financial education and financial literacy.”

    • Branches: Compton Branch (Coming Soon) (Compton, Calif.), Corporate Office and Crenshaw Branch (Los Angeles, Calif.), Miami Branch (Miami, Fla.), Corporate Headquarters (Boston, Mass.), and Roxbury Branch (Roxbury, Mass.)
    • ATMs: Part of the MoneyPass network
    • States: California, Florida, and Massachusetts
    • Services: Checking, savings, and secured VISA credit card
    • Assets: $650 million
    • Availability: Brick-and-mortar and online

    OPTUS Bank

    The story of OPTUS began in 1921, with the founding of the Victory Savings Bank by a group of African American leaders. OPTUS is committed to helping anyone, regardless of background or situation, build their wealth and improve their lives.

    • Branches: Main Branch (Columbia, S.C.)
    • ATMs: Beltline Branch (Columbia, S.C.), Corporate Office (Columbia, S.C.), and Main Branch (Columbia, S.C.)
    • States: South Carolina
    • Services: Personal (IRAs, consumer loans, etc.) and business (transaction accounts, merchant services, etc.) banking
    • Assets: $161.53 million
    • Availability: Brick-and-mortar and online

    South Side Community Federal Credit Union

    Since 2004, the South Side Community Federal Credit Union has offered access to credit and savings services for its members, in addition to financial education. Individuals are eligible for membership if they live, work, worship, attend school, or belong to an organization that is within Chicago’s South Side.

    • Branches: South Side Community Federal Credit Union (Chicago, Ill.)
    • ATMs: N/A
    • States: Illinois
    • Services: Accounts (savings, checking, etc.), loans (payroll advance, payday alternative, etc.), financial education classes, and other services (transfer sweeps, money orders, etc.)
    • Assets: $5.08 million
    • Availability: Brick-and-mortar and online

    Southern Teachers & Parents Federal Credit Union

    With more than 80 years of service, Southern Teachers & Parents Federal Credit Union provides personalized financial services to its members. Those eligible for membership include alumni, employees, parents, and students of Southern University; employees in Assumption, East Baton Rouge, Lafourche, and West Feliciana parishes; employees in Thibodaux and the Lafourche Parish Juvenile Justice Facility; and their family members.

    • Branches: Main Office (Baton Rouge, La.) and Lafeda Branch (Thibodaux, La.)
    • ATMs: Part of the CU Alliance network
    • States: Louisiana
    • Services: Accounts (checking, savings, and youth), loans, other services (VISA debit and credit cards, financial counseling, etc.)
    • Assets: $30.34 million
    • Availability: Brick-and-mortar and online

    St. Louis Aep ky online bill pay Credit Union

    Originally chartered in 1942 as the Teachers Credit Union, St. Louis Community Credit Union offers both financial services and several programs to support consumers in the local community. Individuals who live or work in St. Louis City, Franklin, and St. Louis county in Missouri—as well as in St. Clair, Madison, Monroe, and Jersey counties in Illinois—are eligible for membership, in addition to their families.

    • Branches: Ferguson Branch (Ferguson, Mo.), Florissant Branch (Florissant, Mo.), Flower Valley Branch (Florissant, Mo.), Pagedale Branch (Pagedale, Mo.), Richmond Heights (Richmond Heights, Mo.), St. John Branch (St. John), Benton Park Branch (St. Louis, Mo.), Gateway Branch (St. Louis, Mo.), Grace Hill (St. Louis, Mo.), Jennings Branch (St. Louis, Mo.), LifeWise STL (St. Louis, Mo.), Midtown Branch (St. Louis, Mo.), South City (St. Louis, Mo.), Southtown Branch (St. Louis, Mo.), Sullivan Branch (St. Louis, Mo.), University City (University City, Mo.), MET Center (Wellston, Mo.)
    • ATMs: Part of the CO-OP network
    • States: Missouri
    • Services: Loans (auto, personal, etc.), accounts (savings and checking), business development, advocacy, and insurance (life, AD&D, etc.)
    • Assets: $285 million
    • Availability: Brick-and-mortar and online

    The Harbor Bank of Maryland

    Originally opening its doors in September 1982, The Harbor Bank of Maryland offers banking and other financial services, primarily in the Baltimore metropolitan area. Harbor Bank was also the first community bank in the U.S. to have an investment subsidiary and the first to receive funding from Fannie Mae via the Community Development Financial Institution (CDFI) program. Harbor Bank is one of the two banks that are considered “Black-operated” instead of Black-owned.

    • Branches: Inner Harbor East Office (Baltimore, Md.), Main Office (Baltimore, Md.), Pimlico Office (Baltimore, Md.), Research Park Office (Baltimore, Md.), The Harbor Science & Technology Park East Branch (Baltimore, Md.),Randallstown Office (Randallstown, Md.), and Silver Spring (Silver Spring, Md.)
    • ATMs: Inner Harbor East Office (Baltimore, Md.), Main Office (Baltimore, Md.), Pimlico Office (Baltimore, Md.), Research Park Office (Baltimore, Md.), The Harbor Science & Technology Park East Branch (Baltimore, Md.),Randallstown Office (Randallstown, Md.), and Silver Spring (Silver Spring, Md.), in addition to any ATMS in the AllPoint network
    • States: Maryland
    • Services: Personal (checking, mortgages, etc.) and business (checking, savings, etc.) banking, in addition to loans (personal, mortgage, and business)
    • Assets: $327.45 million
    • Availability: Brick-and-mortar and online

    Toledo Urban Federal Credit Union

    Toledo Urban Federal Credit Union originally opened its doors on July 21, 1996, to help its members achieve economic empowerment. Membership in Toledo’s first community development credit union is available to individuals who live, work, worship, perform volunteer services, or participate in associations headquartered in the central city community, in addition to their families.

    • Branches: Nexus Building (Toledo, Ohio) and Toledo Urban Federal Credit Union (Toledo, Ohio)
    • ATMs: N/A
    • States: Ohio
    • Services: Checking and share accounts, loans (personal, tuition, etc.), credit and ATM/debit cards, credit counseling, and other services (notary service, overdraft protection, etc.)
    • Assets: $10 million
    • Availability: Brick-and-mortar and online

    Tri-State Bank

    In the first 10 years after its founding in 1946, Tri-State Bank of Memphis made more than $10 million in first mortgage loans on homes, representing home ownership for more than 2,000 African American families. Tri-State has also played a critical part in the civil rights movement, including hosting local sit-ins in the bank’s boardroom, providing bail money for protesters, and providing $60,000 in loans to help save the Lorraine Motel, the site of Dr. Martin Luther King’s assassination, from foreclosure in 1982.

    • Branches: Whitehaven (Memphis, Tenn.)
    • ATMs: Whitehaven (Memphis, Tenn.) and any ATMs in the Money Tower network
    • States: Tennessee
    • Services: Personal (checking, savings, etc.), business (checking, savings, etc.), loans (auto, mortgage, etc.), and other services (financial education, Fraud Center, etc.)
    • Assets: $111 million
    • Availability: Brick-and-mortar and online

    United Bank of Philadelphia

    Originally founded in 1992, United Bank of Philadelphia offers personalized banking services in the Greater Philadelphia area to both individuals and businesses. By providing financing to small businesses in urban areas, United Bank supports their growth and allows them to create jobs with livable wages, thus improving the economic condition of those working in the local community.

    • Branches: Center City (Philadelphia, Pa.) and Progress Plaza (Philadelphia, Pa.)
    • ATMs: C-Town Supermarket (Philadelphia, Pa.), City Hall (Philadelphia, Pa.), Criminal Justice Center (Philadelphia, Pa.), Masjidullah Inc. (Philadelphia, Pa.), Philadelphia Traffic Court (Philadelphia, Pa.), Police Districts (Philadelphia, Pa.), Revolutions at Penn Treaty (Philadelphia, Pa.), The Fillmore-Philadelphia (Philadelphia, Pa.), and West Philadelphia (Philadelphia, Pa.)
    • States: Pennsylvania
    • Services: Personal and business banking (checking, savings, etc.), in addition to loans (SBA and commercial loans)
    • Assets: $54.64 million
    • Availability: Brick-and-mortar and online

    Unity National Bank

    The bank was founded in 1963 and chartered in 1985. “In February 1989, through a series of transactions and diligent efforts, it was acquired from Bay Bancshares by local minority leaders,” the bank’s history reports. Unity focuses on helping to rebuild the community with an emphasis on commercial loans and mortgages. It also works closely with civic organizations and agencies, such as the NAACP and the Third Ward Redevelopment Council.

    • Branches: Atlanta (Atlanta, Ga.) Blodgett (Houston, Texas), and Fort Bend (Missouri City, Texas)
    • ATMs: Atlanta (Atlanta, Ga.) Blodgett (Houston, Texas), and Fort Bend (Missouri City, Texas), in addition to any ATMs in the Select network
    • States: Georgia and Texas
    • Services: Business and personal services (loans, checking and savings accounts, etc.)
    • Assets: $133.61 million
    • Availability: Brick-and-mortar and online

    Urban Upbound Federal Credit Union

    Urban Upbound was founded in 2004, to provide five integrated programs to individuals living in public housing and and other low- and moderate-income neighborhoods. The Urban Upbound Federal Credit Union offers affordable financial services to its members.

    • Branches: Urban Upbound Federal Credit Union (Long Island City, N.Y.)
    • ATMs: N/A
    • States: New York
    • Services: Savings, share certificates, as well as personal and small business loans
    • Assets: $1.35 million
    • Availability: Brick-and-mortar and online

    Virginia State University Federal Credit Union

    Authority to establish the Virginia State College Federal Credit Union was granted on Oct. 19, 1938. On May 22, 1979, the organization’s board of directors voted to change the name to the Virginia State University Federal Credit Union.

    • Branches: Virginia State University Federal Credit Union (South Chesterfield, Va.)
    • ATMs: Virginia State University Federal Credit Union (South Chesterfield, Va.)
    • States: Virginia
    • Services: Loans, accounts (checking, savings, etc.), insurance, and other services (wire transfer, direct deposit, etc.)
    • Assets: $10.17 million
    • Availability: Brick-and-mortar and online
    Источник: https://www.investopedia.com/black-owned-banks-by-state-5024944

    Capital One

    Bank holding company headquartered in McLean, Virginia

    Capital One logo.svg
    CapitalOneHQ body.jpg

    Capital One Tower in Tysons, Virginia

    TypePublic

    Traded as

    IndustryFinancial services
    FoundedJuly 21, 1994; 27 years ago (July 21, 1994)
    Richmond, Virginia, U.S.
    FounderRichard Fairbank, Nigel Morris
    HeadquartersCapital One Tower
    McLean, Virginia

    Areas served

    United States, Canada, United Kingdom

    Key people

    Richard Fairbank
    (Chairman, President and CEO)
    Stephen S. Crawford
    (Head of Finance and Corporate Development)
    R. Scott Blackley
    (CFO)
    ProductsRetail banking, credit cards, loans, savings
    RevenueDecrease US$26.033 billion fanatics usa customer service income

    Decrease US$3.203 billion (2020) [1]

    Net income

    Decrease US$2.714 billion (2020) [1]
    Total assetsIncrease US$421.602 billion (2020) [1]
    Total equityIncrease US$60.204 billion (2020) [1]

    Number of employees

    Increase51,985 (2020) [2]
    SubsidiariesWikibuy, ShareBuilder, Paribus, United Income, BlueTarp, Adaptive Path, Confyrm, Capital One Securities, Critical Stack, Monsoon Company, 2021 jaguar f type coupe Solutions, Notch
    Capital ratio11.2% (2018)
    Websitewww.capitalone.com
    Footnotes / references
    [3]

    Capital One Financial Corporation is an American bank holding company specializing in credit cards, auto loans, banking, and savings accounts, headquartered in McLean, Virginia with operations primarily in the United States.[3] It is on the list of largest banks in the United States and has developed a reputation for being a technology-focused bank.

    The bank has 755 branches including 30 café style locations[4] and 2,000 ATMs. It is ranked 97th on the Fortune 500,[5] 9th on Fortune's 100 Best Companies to Work For list,[6] and conducts business in the United States, Canada, and the United Kingdom.[3] The company helped pioneer the mass marketing of credit cards in the 1990s.[7] In 2016, it was the 5th largest credit card issuer by purchase volume, after American Express, JPMorgan Chase, Bank of America, and Citigroup.[8]

    With a market share of 5%, Capital One is also the second largest auto finance company in the United States, following Ally Financial.[9]

    The company's three divisions are credit cards, consumer banking and commercial banking. In the fourth quarter of 2018, 75% of the company's revenues were from credit cards, 14% were from consumer banking, and 11% were from commercial banking.[3] Capital One has consistently ranked as one of the best places to work for, appearing in multiple Glassdoor's Best Places To Work reports.[10] In 2020, Fortune magazine ranked Capital One at number 24 on their Fortune List of the Top 100 Companies to Work For in 2020 based on an employee survey of satisfaction,[11] rising to 9 on the 2021 list.[12]

    History[edit]

    Richard Fairbank and Nigel Morris founded Capital One in 1988 with the support of Richmond, Virginia-based Signet Bank. Fairbank became the company's CEO on July 27, 1994, after Oakstone Financial was spun off from Signet Financial Corp. Oakstone Financial was later renamed to Capital One in October 1994, and the capital one bank in chicago illinois was completed in February 1995. The newly formed credit card company was ranked among the top ten credit card issuers in the United States after signing up more than five million customers. Capital One worked as a monoline, deriving all of its revenues from the credit card business. Even as a monoline, it succeeded in the credit card business due to its use of data collection to target personalized offers directly to consumers.[citation needed]

    In 1996, Capital One moved from relying on teaser rates to generate new clients to adopting more innovative techniques that would attract more customers to their business model. At the time, it was losing customers to competitors who offered higher ceilings on loan balances and no-annual-fee accounts. The company came up with co-branded, secured, and joint account credit cards. In mid-1996, Capital One received approval from the federal government to set up Capital One FDB. It meant that the company could now retain and lend out deposits on secured cards and even issue automobile installment loans.[citation needed]

    Monoline credit card company (1994–2004)[edit]

    Capital One retail footprint as of 2010

    On July 21, 1994, Richmond, Virginia-based Signet Financial Corp (now part of Wells Fargo) announced the corporate spin-off of its credit card division, OakStone Financial, naming Trailer homes for sale in tucson Fairbank as CEO.[13] Signet renamed the subsidiary Capital One in October 1994.[14][15]

    At that time, Capital One was a monoline bank, meaning that all of its revenue came from a single product, in this case, credit cards.[16] This strategy is risky in that it can lead to losses during bad times.[16] Capital One attributed its relative success as a monoline to its use of data collection to build demographic profiles, allowing it to target personalized offers of credit directly to consumers.[17]

    Capital One began operations in Canada in 1996.

    Expansion into auto loans (1996–present)[edit]

    In 1996, Capital One expanded its business operations to the United Kingdom and Canada. This gave the company access to a large international market for its credit cards. An article appearing in the "Chief Executive" in 1997 noted that the company held $12.6 billion in credit card receivables and served more than nine million customers. The company was listed in the Standard & Poor's 500, and its stock price hit the $100 mark for the first time in 1998.[citation needed]

    Throughout its history, Capital One has focused on making acquisitions of monolines in various related sectors. In 2005, the company acquired Louisiana-based Hibernia National Bank for $4.9 billion in cash and stock. It also acquired New York-based North Fork John f kennedy jr biography for $13.2 billion in 2006. The acquisition of smaller banks reduced its dependency on the credit business alone. Other companies acquired by Capital One include Netspend for $700 million in 2007, Chevy Chase Bank for $520 in 2009, IDG Direction division for $9 billion in 2011, and General Electric's Healthcare Financial Capital one bank in chicago illinois Unit for $9 billion in 2015.[citation needed]

    During the subprime financial crisis of 2008, Capital One received $3.56 billion in investments from the US Treasury courtesy of the Troubled Asset Relief Program in 2008. The company was forced to close its mortgage division, GreenPoint Mortgage, due to the losses incurred by investors. It paid back $3.67 suntrust business checking to the US Treasury for the repurchase of the company stock.[citation needed]

    CapitalOne Café in Chicago

    In July 1998, Capital One acquired auto financing company Summit Acceptance Corporation.[18]

    In 1999, Capital One was looking to expand beyond credit cards. CEO Richard Fairbank announced moves to use Capital One's experience with collecting consumer data to offer loans, insurance, and phone service.[19][20]

    In October 2001, PeopleFirst Finance LLC was acquired by Capital One.[21]

    The companies were verizon wireless financial services number and re-branded as Capital One Auto Finance Corporation in 2003.[22]

    In late 2002, Capital One and the United States Postal Service proposed a negotiated services agreement (NSA) for bulk discounts in mailing services.[23] The resulting three-year agreement[24] was extended in 2006.[25] In June 2008, however, Capital One filed a complaint[26] with the USPS regarding the terms of the next agreement,[27] citing the terms of the NSA of Capital One's competitor, Bank of America. Capital One subsequently withdrew its complaint to the Postal Regulatory Commission following a settlement with the USPS.[28]

    Onyx Acceptance Corporation was acquired by Capital One in January 2005.[29]

    Expansion into retail banking (2005–present)[edit]

    While many other monolines were acquired by larger, diverse banks, Capital One expanded into retail banking with a focus on subprime customers.

    Capital One acquired New Orleans, Louisiana-based Hibernia National Bank for $4.9 billion in cash and stock in 2005[30] and acquired Melville, New York-based North Fork Bank for $13.2 billion in cash and stock in 2006,[31] which reduced its dependency on credit cards from 90% to 55%.[32]

    In 2007, Capital One acquired NetSpend, a marketer of prepaid debit cards, for $700 million.[33]

    During the 2007 subprime mortgage financial crisis, Capital One closed its mortgage platform, GreenPoint Mortgage, due in part to investor pressures.[34][35][36]

    In 2008, Capital One received an investment of $3.56 billion from the United States Us bank card balance as a result of the Troubled Asset Relief Program.[37][38] On June 17, 2009, Capital One completed the repurchase of the stock the company issued to the U.S. Treasury paying a total of $3.67 billion, resulting in a profit of over $100 million to the U.S. Treasury.[39]

    The U.S. Securities ppbi insurance Exchange Commission criticized Capital One's conduct during the crisis, claiming that they understated auto loan losses during the financial crisis of 2007–2008. In 2013, Capital One paid $3.5 million to settle the case, but was not required to directly address the allegations of wrongdoing.[40]

    In February 2009, Capital One acquired Chevy Chase Bank for $520 million in cash and stock.[41][42][43][44]

    In January 2011, Capital One acquired Canada-based Hudson's Bay Company's private credit card portfolio from Synchrony Financial, then known as GE Financial.[45]

    In June 2011, ING Group announced the sale of its ING Direct division to Capital One for $9 billion in cash and stock.[46] On August 26, 2011, the Federal Reserve Board of Governors announced it would hold public hearings on the Capital One acquisition of ING Direct, and extend to October 12, 2011, the public comment period that had been scheduled to end August 22.[47] The move came amidst rising scrutiny of the deal on systemic risk, or "Too-Big-to-Fail," performance under the Community Reinvestment Act, and pending legal challenges. A coalition of national civil rights and consumer groups, led by the National Community Reinvestment Coalition, were joined by Rep. Barney Frank to challenge immediate approval of the deal. The groups argued that the acquisition was a test of the Dodd-Frank Wall Street Reform and Consumer Protection Act, under which systemically risky firms must demonstrate a public benefit that outweighs new risk before they are allowed to grow. Kansas City Federal Reserve Bank head Thomas M. Hoenig was also skeptical of the deal.[48][49] In February 2012, the acquisition was approved by regulators and Capital One completed its acquisition of ING Direct.[50] Capital One received permission to merge ING into its business in October 2012,[51] and rebranded ING Direct as Capital One 360 in November 2012.[52]

    In April 2011, Capital One signed a deal with Kohl's to handle Kohl's private label credit card program that was previous serviced by Chase Bank for a seven-year period for an undisclosed amount.[53] The contract between the two companies was extended in May 2014.[54]

    In August 2011, Capital One reached a deal with HSBC to acquire its U.S. credit card operations.[55] Capital One paid $31.3 billion in exchange for $28.2 billion in loans and $600 million in other assets. The acquisition was completed in May 2012.[56] The acquisition also included private issued credit cards for such companies as Saks Fifth Avenue, Neiman Marcus, and Lord & Taylor that were previously handled by HSBC.[57]

    On February 26, 2012, along with several other banks, Capital One announced support for the Isis Mobile Wallet payment system.[58] However, in September 2013, Capital One dropped support for the venture.[59]

    In 2012, Capital One closed 41 branch locations.[60]

    In 2015, Capital One closed several branch locations to leave 174 operating branches in the D.C. metro area.[61]

    On February 19, 2014, Capital One became a 25% owner in ClearXchange, a Peer-to-peer transaction money transfer service designed to make electronic funds transfers to customers within the same bank and other financial institutions via mobile phone number or email address.[62] ClearXchange was sold to Early Warning in 2016.[63]

    In January 2015, Capital One acquired Level Money, a budgeting app for consumers.[64]

    On July 8, 2015, the company acquired Monsoon, a design studio, development shop, marketing house and strategic consultancy.[65]

    In 2015, Capital One acquired General Electric's Healthcare Financial Services unit, which included $8.5 billion in loans made to businesses in the healthcare industry, for $9 billion.[66]

    In October 2016, Capital One acquired Paribus, a first national bank severna park tracking service, for an undisclosed amount.[67][68]

    In July 2019, Capital One signed a deal with Walmart to handle Walmart's private label and co-branded credit card programs that was previously serviced by Synchrony Financial.[69]

    In November 2021, the company introduced Venture X, a travel rewards credit card, with a $395 annual fee.[70]

    Exit from mortgage banking (2006–2007 and 2011–2017)[edit]

    In November 2017, President of Financial Services Sanjiv Yajnik announced that the mortgage market was too competitive in the low rate environment to make money in the business.[71] The company exited the mortgage origination business on November 7, 2017, laying off 1,100 employees.[72] This was the second closure; the first occurred on August 20, 2007, when GreenPoint Mortgage unit was closed.[73] GreenPoint had been acquired December 2006 when Capital One paid $13.2 billion to North Fork Bancorp Inc. The re-emergence into the mortgage industry came in 2011 with the purchase of online bank ING Direct USA.[74]

    Other acquisitions[edit]

    In May 2018, the company acquired Confyrm, a digital identity and fraud alert service.[75][76][77]

    In November 2018, Capital One acquired Wikibuy, a shopping comparison app and browser extension from an Austin, Texas start-up business; Wikibuy has no connection with Wikipedia/Wikimedia.[78]

    Divisions[edit]

    Capital One operates 3 divisions as follows:[3]

    • Credit cards – Capital One issues credit cards in the United States, Canada, and the United Kingdom and is the 3rd largest credit card issuer, after JPMorgan Chase and Citigroup. As of December 31, 2018, Capital One had $107.350 billion in credit card loans outstanding in the United States and $9.011 billion of credit card loans outstanding in Canada and the United Kingdom, with credit cards representing 47.3% of total loans outstanding.[3]
    • Consumer banking – offers banking services, including checking accounts, saving accounts, and money market accounts via its branches and direct bank as well as retail and auto loans. As of December 31, 2018, the company had $2.864 billion in retail loans outstanding and $56.341 billion in car finance loans outstanding, representing 22.9% of total loans outstanding.[3]
    • Commercial banking – As of December 31, 2018, Capital One had $70.333 billion in loans outstanding secured by commercial, multifamily, and industrial properties, representing 28.6% of total loans outstanding.[3]

    Sports marketing[edit]

    Since 2001, Capital One has been the principal sponsor of the college football Florida Citrus Bowl, which has been called the Capital One Bowl since 2003.[79] It sponsors a mascot challenge every year, announcing the winner on the day of the Capital One Bowl. The name of the stadium was changed in 2014 to the Orlando Citrus Bowl and was then changed again to Camping World Stadium in 2016, following a multi-year naming rights sponsorship with Camping World.[80]

    Capital One is one of the top three sponsors of the NCAA, paying an estimated $35 million annually in exchange for advertising and access to consumer data.[81][82] Capital One also sponsored the EFL Cup, an English Soccer Competition, from 2012 to 2016. The company sponsored Sheffield United F.C. from 2006 to 2008. Since 2009, the University of Maryland Terrapins football team has played at Capital One Field at Maryland Stadium (formerly Byrd Stadium), a naming-rights deal inherited in the bank's acquisition of Chevy Chase Bank. In 2017, the company became the sponsor of the Capital One Arena in Washington D.C.[83][84]

    In 2018, to celebrate the Washington Capitals' second-ever Stanley Cup Finals appearance, the firm temporarily changed its logo by replacing the word "Capital" with the Capitals' titular logo, without the "s" plural.[85][86]

    Corporate citizenship[edit]

    Capital One operates some charitable programs. The accountability organization National Committee for Responsive Philanthropy has been highly critical of Capital One's relatively low rate of giving, stating that "Capital One's philanthropic track record is dismal".[87] The organization pointed out that Capital One's donations of 0.024% of revenue were capital one bank in chicago illinois less than the industry median of 0.11% of revenue.[87] Capital One has disputed the groups figures, saying that ". In 2011 alone, our giving totals are more than 6 times greater ($30 million) than capital one bank in chicago illinois number given by the NCRP".[88]

    Criticism and legal actions[edit]

    [edit]

    In July 2012, Capital One was fined by hotels near university at buffalo Office of the Comptroller of the Currency and the Consumer Financial Protection Bureau for misleading millions of its customers, such as paying extra for payment protection or credit monitoring when they took out a card.[89] The company agreed to pay $210 million to settle the legal action and to refund two million customers.[90] This was the CFPB's first public enforcement action.[91]

    Automated dialing to customers' phones[edit]

    In August 2014, Capital One and three collection agencies entered into an agreement to pay $75.5 million to end a consolidated class action lawsuit pending in the United States District Flights to san jose del cabo for the Northern District of Illinois alleging that the companies used an automated dialer to call customers' cellphones without consent, which is a violation of the Telephone Consumer Protection Act of 1991.[92] It is notable that this legal action involved informational telephone calls, which are not subject to the "prior express written consent" requirements which have been in place for telemarketing calls since October 2013.[93]

    2014 amendment to terms of use to allow personal visits[edit]

    In 2014, Capital One amended its terms of use to how to apply for a credit card if self employed it to "contact you in any manner we choose", including a "personal visit. . at your home and at your place of employment." It also asserted its right to "modify or suppress caller ID and similar services and identify ourselves on these services in any manner we choose."[94] The company stated that it would not actually make personal visits to customers except "As a last resort. if it becomes necessary to repossess [a] sports vehicle".[94] Capital One also attributed its assertion of a right to "spoof" as necessary because "sometimes the number is 'displayed differently' by 'some local phone exchanges,' something that is 'beyond our control'".[95]

    July 2019 security breach[edit]

    Capital One publicly acknowledged on July 29, 2019, that they had found unauthorized access had occurred ten days earlier by an individual who had breached the account and identity security of 106 million people in the United States and Canada.[96] The FBI arrested Paige Thompson, who had previously worked as a software engineer for Amazon Web Services, Capital One's cloud hosting company. Capital One declared that Thompson had accessed about 140,000 Social Security numbers, a million Canadian social insurance numbers; 80,000 bank account numbers, and an unknown number of names and addresses of customers. Capital One began offering free credit monitoring services to those affected by the breach.[97][98]

    Thompson's employment at Amazon appears to have ended in September 2016. Amazon stated that the security vulnerability she used to access Capital One could have been discovered by anyone, the information that facilitated her activity was not gained from work at Amazon, and that she gained access via "a misconfiguration of the (Capital One-designed) web application and not the underlying (Amazon-designed) cloud-based infrastructure".[99]

    Details of the breach[edit]

    Forensic analysis[vague] determined Thompson's actual hacking activity occurred in March 2019, then she posted the information to different outlets over the next three months. In April she posted what came to be known[by whom?] as the "April 21 Files", a trove of leaked data along with instructions on how to access the company's credentials for more data extraction. In July a white-hat alerted Capital One to Thompson's hacking activity. Thompson pleaded not guilty to charges of wire fraud and computer fraud and abuse. During the investigations and subsequent data freeze, millions of Capital One accounts were locked; their owners were unable to process financial transactions, meet payments, or gain access to their financial records.[100]

    Capital One Response[edit]

    Critics lambasted the bank's effort to downplay the hack while investigations were ongoing, and described the bank as more concerned about its image than the needs of its clients. Several Capital One customers stated that the first time they heard about the hack was through the media and the bank did not disclose the breach or explain its implications to affected customers.[101] On social media and in the mainstream press, Capital One's contradictory July 2019 press statement was mocked[102][103] for saying "No bank account numbers or Social Security how to activate walmart prepaid debit card were compromised," but then listing hundreds of thousands of bank account numbers and social security numbers that were compromised.

    Federal Reserve Action[edit]

    On August 6, 2020, the Federal Reserve Board of Governors announced a cease and desist order against Capital One resulting from the breach.[104] The order mandated, among other things, significant improvements in Capital One's governance, risk management and compliance (GRC) practices.

    Lawsuits[edit]

    Lawsuits were filed against Capital One and its employees in federal[105] and circuit courts.[106]

    Additional Lawsuits were filed against both Amazon and GitHub, alleging they were aware of the exploit but did not act to fix or patch the vulnerability[107]

    Government investigations[edit]

    Relative to other large banks, Capital One has received fewer sanctions or default judgments against it.[citation needed] But some[who?] allude this is a result of its close proximity to Washington, D.C. and possible relations with federal regulators.[citation needed] In 2015 the bank disclosed that it was under federal investigation for bank fraud, money laundering, and possible racketeering charges. No further information was given and government investigators would only confirm that it was under scrutiny for "unspecified charges".[108]

    In 2018, Capital One was fined $100 million for failure to monitor, detect, and prevent money laundering.[109] Charging documents[110] specified Capital One failed to file suspicious activity reports, had deficiencies in its risk assessment, remote deposit capture and generally had weaknesses that compromised national bank security controls. The bank was the subject of a larger investigation that alleged funds were siphoned out of US jurisdiction to safe havens.

    In January 2021 Capital one was fined $390 million by FINCEN for anti-money laundering control failure for a now-defunct, small portfolio of check-cashing businesses that Capital One acquired around 2008 which subsequently exited from in 2014. Capital One later admitted that it failed to file thousands of suspicious activity reports and lapsed on filing currency transaction reports on around 50,000 reportable cash transactions valued around $16 billion.[111][112]

    Notable office buildings[edit]

    References[edit]

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      Inside Capital One’s Sleek Rolling Meadows Office

      “Influenced by architect Daniel Burnham’s 19th century city plan of Chicago, NELSON designed a floorplan that organized circulation between social zones that encouraged natural collaboration. At the Western end, major design elements in the space recall the greenery of Chicago’s urban parks. From wallcovering patterns to the color palette and textures used, the space creates the illusion of being outdoors. At the opposite end, the color palette and materials change to reflect the city’s proximity to Lake Michigan. Blue tones, metallic surfaces, and softer textures create a formal connection to the lake and to the city. Capital One’s staff required flexible meeting spaces of varying sizes and seating arrangements to suit their agile work process. Throughout floorplan, users encounter a variety of zones that provide many options to choose how to work, from countless tucked-away meeting areas to phone rooms, collaboration spots, and formal conference rooms. The design provides opportunities for collaboration as well as heads-down, focused work. Expressway circulation connects users to main cafe hubs, and avenue-like offshoots provide different meeting space options along the way. A variety of collaborative rooms begin at the core of the plan and spread outwards towards the open and bright individual workspaces. Comfortable focus niches line the ͞El͟ corridor, and private hideaway rooms, paired programming zones, and open swarming spaces are distributed throughout the urban plan. Writeable walls throughout the space allow employees to express themselves and collaborate, keeping staffed engaged and active in their work.”

      Источник: https://www.officelovin.com/2017/05/inside-capital-ones-rolling-meadows-office/
      Property Assessment Division. 5 million — was led by Menlo Ventures with additional investments from Capital One Ventures, CM Ventures, Human Capital, TripHammer Ventures (Alumni Ventures Group) as well as existing investors such as e. (meaning, usually, the excess of the amount that the IRS claims is the correct tax over the amount the taxpayer > Nevertheless, Capital One did not even begin to investigate the data breach until or around July 17, 2019, when it received an email apparently from a GitHub. Bank : Z2 After all, one of the largest 2019 breaches, the Capital One breach, occurred when a hacker infiltrated the servers of a third-party Cloud computing company that Capital One used. 10923. Dec 23, 2016 · One of COFC's subsidiaries, Capital One Auto Finance (taxpayer), "was authorized to conduct, and conducted, business in Oregon and other states. 2020. table (beyond just capital). Subscribe to the Crunchbase Daily. Intent #1. 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    Источник: http://anuncios.aparejadoresmadrid.org/h1al/capital-one-code-signal-assessment.html

    Wallace v. Capital One Bank, 168 F. Supp. 2d 526 (D. Md. 2001)

    168 F. Supp. 2d 526 (2001)

    Denita J. WALLACE
    v.
    CAPITAL ONE BANK, et al.

    No. CIV. JFM-00-2290.

    United States District Court, D. Maryland.

    April 6, 2001.

    O. Randolph Bragg, Horwitz, Horwitz & Associates, Chicago, IL, Edwin R. Burkhardt, Law Office, Towson, MD, for Plaintiff.

    Kenneth W. Irvin, Morrison & Foerster, Washington, DC, Amy B. Lovell, Gregory P. Dresser, James F. McCabe, Morrison and Foerster, LLP, San Francisco, CA, for Defendants.

     
    MEMORANDUM

    MOTZ, Chief Judge.

    Denita J. Wallace has brought this class action under the Federal Debt Collection Practices Act ("FDCPA"), 15 U.S.C. §§ 1692-1692o, against Capital One Bank, *527 Capital One Financial Corp., and the Westmoreland Agency. Defendants have moved to dismiss for failure to state a claim under Fed.R.Civ.P. 12(b) (6). The motion will be granted.[1]

     
    I.

    Wallace defaulted on a debt she owed. Capital One Bank purchased the debt, and it was assigned to the Westmoreland Agency ("Westmoreland") for collection. Capital One Financial is a holding corporation that owns Capital One Bank and Westmoreland.

    In accordance with the mandate of 15 U.S.C. § 1692g, Westmoreland sent to Wallace two collection letters containing debt validation notices. The substance of both letters was the same. They read in pertinent part:

     
    Capital One Bank one of the nation's leading credit issuers recently purchased your charged-off account from the creditor referenced above. So we'd like to welcome you as a new customer! This debt will be serviced by The Westmoreland Agency, a wholly owned subsidiary of Capital One Services, Inc.
     
    We're very excited about the opportunity to help you build a solid credit foundation. We'll assume the debt is valid unless you dispute all or part of it in writing within thirty (30) days after receipt of this notice. If you notify us in writing within the thirty (30) day period that all or part of the debt is disputed, we will mail a copy of verification of the debt to you. We will also provide you with the name and address of the original creditor of this debt if we received your written request within the thirty (30) day period.
     
    If you have any questions or need to talk about your account, please call the Westmoreland Agency, which will be servicing your account, at 1-888-298-2919 between the hours of 8 a.m. and 8 p.m., Monday through Friday, and between 10 a.m. and 3 p.m., Saturday (ET). The Customer Paypal extras mastercard account login specialists will be glad to assist you in any way that they can to help you begin rebuilding your credit. Or, if you prefer, you may direct your inquiries in writing to The Westmoreland Agency P.O. Box 85522 Richmond, VA XXXXX-XXXX.

    The statute of limitations has run on Wallace's debt. In light of that fact, Wallace argues that the letters sent to her by Westmoreland violated the FDCPA in various respects.

     
    II.

    15 U.S.C. § 1692e provides that "[a] debt collector may not use any false, deceptive, or misleading representation or meanings in connection with the collection of a debt." Section 1692e(2) (A) further provides that "[t]he false representation of the character, amount, or legal status of any debt" is a violation of the FDCPA. These provisions have been interpreted to prohibit a debt collector from threatening to sue on a debt that it knows to be barred by limitations. Kimber v. Federal Financial Corp., 668 City bank lubbock texas phone number. Supp. 1480, 1488-90 (M.D.Ala.1987).

    Kimber is distinguishable from the present case in that the letters sent by Capital One Bank to Wallace did not threaten collection action. On similar *528 facts other courts have found there to be no violation of the FDCPA. See Aronson v. Commercial Fin. Serv., Inc., 1997 WL 1038818, at *2 (W.D.Pa.), aff'd without opinion, 162 F.3d 1150 (3d Cir. 1998); Shorty v. Capital One Bank, 90 F. Supp. 2d 1330, 1331-33 (D.N.M.2000); Johnson v. Capital One Bank, 2000 WL 1279661, at *1-3 (W.D.Tex.2000). But cf. Stepney v. Outsourcing Solutions, Inc., 1997 WL 722972 (N.D.Ill.1997). These cases proceed from the premise that where (as in Maryland, see Jenkins v. Karlton, 329 Md. 510, 620 A.2d 894, 904 (1993)) a limitations statute does not extinguish the debt but only provides a defense against its collection, a debt collector may seek voluntary payment of a time-barred debt. Shorty, 90 F. Supp. 2d at 1332. Indeed, Kimber itself recognizes this to be true. 668 F. Supp. at 1489. Therefore, further contact between a debt collector and capital one bank in chicago illinois debtor about a time-barred bad debt is not necessarily an affirmative representation that the debt collector can sue on the debt. Shorty, 90 F. Supp. 2d at 1332; Aronson, 1997 WL 1038818, at *3.

    Wallace contends that whether the debt validation notices threaten collection efforts is immaterial. According to Wallace, Capital One Bank's purpose in not disclosing the fact that enforcement of the debt is time-barred is to induce the debtor to make a partial payment or acknowledge the existence of the debt. Such actions by the debtor would have the effect of reviving the debt. See, e.g., Jenkins, 620 A.2d at 904; United States v. Culver, 958 F.2d 39, 41 (4th Cir.1992). Wallace correctly points out that a debt collector's conduct is to be measured under the FDCPA by a "least sophisticated consumer" standard. See United States v. Nat'l Fin. Serv., Inc., 98 F.3d 131, 135-36 (4th Cir.1996). Thus, Wallace argues, in order to prevent a debt validation notice from being misleading or deceptive, it must affirmatively disclose that enforcement of the debt referenced in the notice is time-barred unless it is revived hotels near university at buffalo partial payment or acknowledgment.

    Wallace's contention that it is violative of § 1692e for a collector to trick an unsophisticated debtor into reviving her debt and thus changing her legal position may very well be meritorious. In that event, if a debt validation notice that is silent on the issue of the time-barred nature of the debt is utilized as the catalyst to prompt the debtor's response resulting in the revival, the notice would constitute part of a course of collection conduct that was deceptive. This does not mean, however, that the sending of a debt validation notice that does not disclose that enforcement of the debt is time-barred and that any partial payment or acknowledgment would result in its revival is itself violative of § 1692e. As held in Shorty and Aronson, such a letter in and of itself is consistent with seeking nothing more than a voluntary payment.

    Wallace alleges only that she received the debt validation notices from Capital One Bank. She does not allege that she was induced to make a partial payment of her debt or acknowledge her debt and that Capital One Bank then used the partial payment or acknowledgment against her by filing suit against her, threatening a like suit against her, or otherwise asserting that her debt had been revived. Nor does she allege that in any subsequent oral or written communication with her Capital One Bank misrepresented to her the effects chase credit card pre approval link a limitations statute. Compare Aronson, 1997 WL 1038818, at *4 (finding that a representative of the defendant made a misleading statement by asserting that a statute of limitation only applies to "the length of time that it can show on your credit report."). If Wallace had made such allegations, the case would be *529 different. I hold, however, that unless it is alleged that a debt collector has engaged in a course of conduct that tricks a debtor into waiving his legal right to assert a limitations defense, no violation of the FDCPA occurs solely because a debt validation notice silent on the time-bar issue is sent to the debtor.

     
    III.

    Wallace makes two ancillary contentions. First she argues that Capital One Bank's debt validation notices violated § 1692g(a) (3) by requiring that she could only dispute the validity of her debt in writing. I recognize that such cases as Ong v. American Collections Enterprise, Inc., 1999 WL 51816, at *4 (E.D.N.Y.), and Reed v. Smith, Smith, & Smith, 1995 WL 907764, 1995 U.S. LEXIS 22013 (M.D.La. Feb. 7, 1995), support Wallace's argument. However, I am persuaded by the reasoning in Graziano v. Harrison, 950 F.2d 107, 111-12 (3d Cir.1991), which holds that not requiring a debtor's dispute under § 1692g(a) (3) to be in writing would make the statutory scheme incoherent. Indeed, if Capital One Bank invited an oral communication disputing the debt from the debtor, it might induce the debtor to waive her rights under § 1692g(a) (4) and (5) which require a writing to invoke the rights conferred by those sections. Cf. Withers v. Eveland, 988 F. Supp. 942, 947 (E.D.Va.1997).

    Somewhat paradoxically, Wallace relies upon Withers to support her second ancillary contention: that the sentence in Capital One Bank's debt validation notices, stating "[i]f you have any questions or need to talk about your account, please call the Westmoreland Agency .," might induce an unsophisticated debtor to waive her rights under § 1692g(a) (4) and (5). The general rule upon which Wallace relies that the notices required by § 1692g(a) must not be overshadowed or contradicted by other messages or notices in the letter containing them bmo harris bank locations in texas is sound. See Miller v. Payco-General Am. Credits, Inc., 943 F.2d 482, 484 (4th Cir.1991). However, a debt collector does not violate § 1692g merely by providing a telephone number in the letter containing the debt validation notices. See, e.g., Terran v. Kaplan, 109 F.3d 1428, 1434 (9th Cir.1997). Moreover, here the language, tenor, font, and placement of the challenged sentence inviting the debtor to call Westmoreland with any questions do not have the effect of overshadowing or contradicting the other portions of the letter that clearly require a writing for the invocation of rights under § 1692g(a) (4) and (5).

    NOTES

    [1] Capital One Financial Corp. has also filed a motion to dismiss for lack of personal jurisdiction. I need not decide that motion since I am granting Capital One Financial's Rule 12(b) (6) motion. I also need not address an additional argument made by Capital One Financial in its Rule 12(b) (6) motion not made by the other defendants that it is not a "debt collector" within the meaning of the FDCPA.

    Источник: https://law.justia.com/cases/federal/district-courts/FSupp2/168/526/2293387/
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