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This happens all the time with people who apply for bank accounts. Chex Systems provides a vetting service for banks. If you ever have a checking account closed
by donarb 7y ago
This happens all the time with people who apply for bank accounts. Chex Systems provides a vetting service for banks. If you ever have a checking account closed by the bank, they report you to Chex Systems who then blacklist you for five years from getting another checking account at the 95% of banks which use Chex. No appealing, no explanation, just blacklisting.
https://www.nerdwallet.com/blog/banking/blacklisted-by-chexsystems-what-to-know/ https://www.nerdwallet.com/blog/banking/blacklisted-by-chexs...
- elbasti 7y agoChex is subject to the FCRA, so at the very least one should be able to appeal (Chex) on the basis of inaccurate information, and to get a report from Chex explaining the information they have on you. As well, if a bank denies you a checking account due to a Chex report, the bank is under obligation of letting you know why (again, thanks to the FCRA). Now, this doesn't mean that it's _fair_ (it isn't), but the law does offer you some measure of transparency.