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Disputing a ChexSystems Report

Background
ChexSystems, like credit bureaus, is considered a Consumer Reporting Agency (CRA) and governed by the Fair Credit Reporting Act (FCRA), which entitles consumers the right to repair their own credit report. A study by the U.S. Public Interest Research Group (USPIRG) found that one in four credit reports contain errors.
The Fair and Accurate Credit Transaction Act of 2003 (FACTA) added new sections to the FRCA, which placed new emphasis on the accuracy of information in consumer reports. Previous to the FACTA, disputes regarding the accuracy of information in a consumer report restricted the consumer to deal only… Continue reading

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want to open checking account am on chexsystems? 
ChexSystems: Common Questions
 Who is ChexSystems, Inc.?

ChexSystems, Inc. is a deposit account verification service used by financial institutions such as banks and credit unions. Deposit account verification is simply a tool, used within the banking industry, to aid in the application process of new accounts. The purpose of using ChexSystems is to identify any account mishandlings by potential applicants.

What is account mishandling?

Account mishandlings are causes for your bank to close your deposit account. This may include: excessive overdrafts over a short period, fraud, debts owed to a financial institution, or false information… Continue reading

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