Many banking regulations put in place by the federal government are designed to protect the rights of U.S. citizens when it comes to financial transactions and money handling. Other regulations are put in place to protect the banks themselves. However, ChexSystems and other reporting agencies are not sufficiently regulated, and many obtain and disseminate wrong..
ChexSystems is a consumer credit agency, and as such, is very similar to Experian, TransUnion, and Equifax. All are regulated by federal law, and all must provide at least one free report a year to the consumer. However, there are several differences between ChexSystems and “the big three”. Type of Reporting The main credit agencies..
What IS ChexSystems? ChexSystems is a consumer credit reporting agency which tracks the financial history of people, especially in regard to their banking history. It consists of a database in which the names, social security numbers, addresses, and state ID numbers are associated with bank accounts closed for various reasons. ChexSystems is governed by the..
If you’ve ever been denied checking account privileges due to being blacklisted on ChexSystems, you know it can be difficult to do important things like get paid, pay bills, manage your money, and more. Here are several things you can do even with a denied bank account status to mitigate your issues until your problems with..
ChexSystems can cause immeasurable havoc on everyday life, causing you to be turned down for a checking account over and over again without you even being fully aware of the reason why. Many people are unaware that they are in the ChexSystems database until they find themselves denied bank account access, and then must go..
If you have issues with ChexSystems, and just want to know how to get removed from ChexSystems once and for all, you need to be prepared for a lengthy process if you try to accomplish this on your own. Many people fight with ChexSystems for years trying to get incorrect information removed, but fail due..