WM CERTIFIED Q1 2023 - round 1

A verified applicant called in to check app status for her Venture One Application, Insight shows declined due to pending applications. It was determined that decline notification was received.

Customer: I wanna know why my application is declined.

Agent: Upon checking here, your application is declined due to pending applications

Customer: then when can i apply again?

Agent:   For Venture One it states here  that customer is not eligible for an offer if  you  applied for a Capital One card 2 or more times in the last 30 days  

Customer: so i can only apply once a month for that card?

Agent: Technically, Yes!

Caller Disconnected the call

Did the agent commit a regulatory violation?

• YES

• NO

 See Image for reference:

Customer: hey , I applied just the first week of January, i think January 4 2023 and got approved, checking on when will i get my card.

Agent: Will be more than happy to assist you, May i have your Name, Social and Date of birth for verification?

Customer: Sure! John Cardholder, Social is 000-00-0000 and my birthday is 1st of January of 91.

Agent: thanks! Got it! Upon checking here you actually applied and got approved on the 6th. So expect the card 7-10 bus days from that day.

Customer: Cool thanks much!

What Regulatory Violation was Committed?

• REG P

• UDAAP 137

• REG E

• REG Z

Customer: Hi! I just applied for a card on 2/13/2023 and I know it's approved but I don't know when should I receive my card.

Agent: Sure, I can definitely assist you. Let me pull up your application, what's your name?

Customer: It's John Cardohollders

Agent: And your ssn and dob?

Customer: SSN is 000-00-0000 and Dob is 01/01/1991

Agent: There you go, I found the application and yes it was approved on 2/13/2023 and card should be mailed within 7 to 10 business days from approval date.

Customer: Alright, thank you.

What Regulatory Violation was Committed?

• REG B

• REG Z

• REG P

• UDAAP 137

Customer: I applied but got declined and I received a letter in the mail saying the reason why I'm not approved was because of too many revolving accounts? I have paid everything, is there a way for you to reconsider my application?

Agent: Yeah I can request to have this reprocessed but approval is not guaranteed because if the information from the credit bureaus are not updated then the application is still going to be declined.

Customer: Is that so? I guess I'll think about it first. Thank you for your time anyway.

What Regulatory Violation was Committed?

• Reg E

• Reg P

• Reg Z

• Reg B

Failing to accurately capture the Annual Business Revenue provided by the applicant is what Regulatory Violation?

• Reg E

• Reg P

• Reg B

• Reg BB