Cap One Sues California to Keep Records Secret

Credit card issuing giant Capital One has filed a lawsuit seeking an injunction against California attorney general Jerry Brown from gaining access to records he is seeking from the credit card firm.

According to LegalNewsline.com, Capital One filed its suit Friday in San Francisco federal court. Capital One is arguing that since it is a national bank, Brown does not have the rights to the records he is trying to access.

Brown’s office is currently investigating the McLean, Va.-based bank for potential violations of the state’s consumer protection laws. Specifically, Brown wants to know if offers Cap One made to consumers concerning balance transfers on credit cards were illegal or represented false advertising. The investigation has been ongoing for more than a year.

But the company says that the request for additional records is now moot, given that it became a national bank in March. Cap One says that legal jurisdiction over its actions now lay with the U.S. Office of the Comptroller of the Currency, not the states.