![]() ![]() Is This Legal?Īlthough Sean felt Capital One was being intrusive, it’s not only legal for credit card companies to ask for income information, they’re also required by law to keep records of that info current: According to federal regulations, credit card issuers have to make an “ability to repay” evaluation when considering potential customers, or when contemplating credit increases to existing customers. “Maybe it was just an error because I have a credit card with them too, but this feels really unethical,” Sean wrote, wondering if it was legal to require that information before allowing him to log in to see any of his accounts. ![]() He was frustrated that he couldn’t access his non-credit card accounts without entering something in that field. He said he suspected it had something to do with him having a Capital One credit card, and acknowledged that other financial institutions had asked for such information in the past, but that he’d never seen anything “so intrusive” because there was no option to opt out. That’s what happened to Consumerist reader Sean, who was just trying to log on to, where he has both a savings account and a credit card, only to be faced with a demand for his latest income info: But have you ever gone to your bank’s site only to be told you must update your income with the bank before going any further? By now you’re probably used to going to your bank’s website and being upsold on everything from car loans to mortgages to retirement accounts before you can move on to see how your money is doing.
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