2004 Credit Suit

My fax to McAfee's attorneys, notice of press release

I'm STILL waiting for any kind of investigation by the FRB Richmond and their Senior VP and General Counsel James McAfee, have heard NOTHING since I submitted my 3/2/04 filing and exhibits.

James McAfee's actions are the definition of evil. He actively supports Capital One and refuses to enforce the law. And his attorneys Maureen Welsh and Thomas Maraz with Gallagher & Kennedy are just as guilty of destroying many lives of hardworking good people.

Maureen Welsh and Thomas Maraz chose to increase their personal wealth by defending pure EVIL.

If it wasn't for the evil attorneys, consumers would obviously do a lot better in the courts.

Saddam Hussein suppressed dissent with chemical weapons and an army of brutal henchmen. Of course many of the killers and torturers had an excuse: they had no choice. Their lives and the lives of their families were threatened.

In America, the corporate lawyers took the job. Nobody threatened them. They volunteer - for the money.

If the lawyers had a conscience and refused to take these cases, evil wouldn't have chance.

If there is anything like hell, that's where they'll end up. But that doesn't help people like me NOW, we pay our bills on time and get declined and pay higher interest and insurance because Capital One doesn't report the credit limits and subsequently our credit scores are lowered.

So I'll send out a press release about Mr. McAfee and his legal team. The Bank One press release has been accessed 16,660 times now and the media picked it up 618 times.

If there's anyone left in America who doesn't worship money and cares enough to do something about the exploitation of the disadvantaged, maybe this is the way to find them.

Here is my renewed complaint and notice of press release to McAfee's legal team:

Christine Baker
(deleted)
Tel: (206) 202-4653
Fax: (571) 222-1000
Email: christine@bayhouse.com

Maureen A. Welsh
Thomas A. Maraz
Gallagher & Kennedy, P.A.
2575 East Camelback Road
Phoenix, Arizona 85016–9225

Via fax to 602-530-8500 -- 2 pages

March 28, 2004

Re: My FRB-R and James McAfee complaint about Capital One, CIV-03-525-PCT-RCB
Notice of press release

Dear Ms. Welsh and Mr. Maraz:

I hoped to finally receive a substantive response to my complaint with the FRB-R and Mr. McAfee. However, I have received absolutely NOTHING.

Please advise whether any of Mr. McAfee’s contact information changed, as I am preparing a press release about his vile conduct and his continued active support of the exploitation of America’s disadvantaged by refusing to take the actions necessary to get Capital One to comply with the FCRA.

And just in case Mr. McAfee is still confused, here is my complaint again:

Re: Capital One refusal to report the credit limits in violation of the FCRA

Capital One refuses to report the credit LIMITS to the CRAs, apparently for all credit card accounts and in violation of the Fair Credit Reporting Act (FCRA).

Because Fair Isaac's credit scoring software utilizes the "High Credit" instead of the "Credit LIMIT" for Capital One accounts, the Balance/Limit Ratio calculated by Fair Isaac's software is obviously often MUCH higher than it should be.

Example:

A consumer with only one revolving account with a $5,000 credit limit and a $250 balance has a 5% B/L ratio.

If this account is a Capital One account, reported with a "High Credit" of $250, the B/L ratio is 100%. The credit scores can easily be lowered over 50 points due to Capital One's refusal to report the credit LIMIT.

Enormous damages are inflicted on many millions of Americans. Aside from credit declines and higher interest rates, many consumers can no longer afford insurance or are declined for insurance due to their low credit scores.

Ultimately, many consumers are forced into bankruptcy as a direct result of higher interest and insurance rates due to the low credit scores.

In many cases, those scores are low NOT because of late payments, but because of Capital One's policy not to report the credit LIMITS to the credit bureaus in violation of the FCRA.

FCRA § 623. Responsibilities of furnishers of information to consumer reporting agencies [15 U.S.C. § 1681s-2]:

"(a) Duty of furnishers of information to provide accurate information.

(2) Duty to correct and update information. A person who

(A) regularly and in the ordinary course of business furnishes information to one or more consumer reporting agencies about the person's transactions or experiences with any consumer; and

(B) has furnished to a consumer reporting agency information that the person determines is not complete or accurate, shall promptly notify the consumer reporting agency of that determination and provide to the agency any corrections to that information, or any additional information, that is necessary to make the information provided by the person to the agency complete and accurate, and shall not thereafter furnish to the agency any of the information that remains not complete or accurate."

Because the FCRA does not allow consumers to sue for Section a) violations, and only the "regulators" may enforce these regulations, I am asking you to enforce the requirement for accurate and complete credit reporting.

Exhibit AN is my 2/27/04 credit report with the Balance/Limit Ratio calculations for credit scores and illustrates the destructive impact of missing credit LIMITS on FICO scores.

James McAfee’s affidavit implies that my 11/12/02 complaint exceeded his mental capabilities.

If Mr. McAfee is still unable to comprehend any words, concepts or calculations, I will gladly provide explanations.

I have successfully explained the importance of the balance/limit ratio and the reporting of the correct credit limits to readers who barely spoke English and/or with very little education.

I am looking forward to a substantive reply.

Very truly yours,

Christine Baker
Christine@bayhouse.com

c: posted at CreditCourt.com and CreditSuit.org

Posted by Christine at March 28, 2004 03:16 PM