SAN FRANCISCO (Legal Newsline)-Capital One Financial Corporation is seeking to keep its records from California Attorney General Jerry Brown, who is investigating whether the bank and credit card company violated state consumer protection laws.
In court papers filed Friday in San Francisco federal court, Capital One is seeking an injunction, arguing that as a national bank, Brown has no right to records.
Banks are under the purview of the U.S. Office of the Comptroller of the Currency, and not subject to state officials, Capital One says.
The McLean, Va.-based bank became a national banking association in March, more than a year after Brown issued his first requests for information to determine if the company violated California's unfair competition and false advertising laws.
Brown is seeking information related to offers the bank and its credit card arm made to consumers about such things as balance transfers and issues of credit cards on reaffirmation of preexisting debt, according to court papers.
From Legal Newsline: Reach reporter Chris Rizo by e-mail at chrisrizo@legalnewsline.com.
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