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Lots and lots of people are unbanked because none of those banks and credit unions will allow them to open accounts. Largely because they all use the same data
by kasey_junk 3y ago
Lots and lots of people are unbanked because none of those banks and credit unions will allow them to open accounts. Largely because they all use the same data brokers to determine credit worthiness.
- p1mrx 3y agoYou generally don't need a credit report to open a checking account, but https://en.wikipedia.org/wiki/ChexSystems https://en.wikipedia.org/wiki/ChexSystems seems analogous.
- shitlord 3y agoYes, ChexSystems is mentioned in the original blog post.
- conductr 3y agoChexSystems is the big one afaik