By Todd Green
A post on CreditBloggers details the tribulations of a poor soul that can’t open a bank account due to having a negative file over at ChexSystems. For those that don’t know, ChexSystems is a company that reports adverse checking account activity. This is sort of like a credit reporting agency for referencing checking account history.
From CreditBloggers: ChexSystems: The Credit Reporting Agency You Don’t Want to Have a File With
According to their website, “ChexSystems, Inc provides deposit account verification services to its financial institution members to aid them in identifying account applicants who may have a history of account mishandling (for example, people whose accounts were overdrawn and then closed by their bank).”
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