new checking act denial based on credit report

[kingcuppie]

What is the name of your state (only U.S. law)? PA
(I already hate banks, as they never shouldv ebeen bailed out, the gov shouldve taken them over ,bypassing banks wouldve madeinterest rates lower since it wouldve no longer been gov lends banks money, banks lend consumers money, it wouldve went right from gov to consumers)

ok , now heres my problem/complaint. i applied for a Citizens bank checking account and at a few other banks and instead of them checking my chexsystems report, they checked my credit and said it was denied based on information in my credit report and i think they might have named Experian, doesnt matter which one though). my point is that if im NOT applying for "Credit", then they have no right to look at my "Credit" report. there shoudl be a law against this. they are lucky they are given the right to be in business anyways and dont tell me that they have the right because they want to just see how u handle accounts because its NOT a credit account when applying for a checking account. it just isnt. and if u think thry have the right, name one thing that isnt to do with credit that checks ur report, and i dont mean something like a job. so to be to the point, what gov. agency that isnt in the banks pockets can i contact to complain?

 

[Zigner]

What is the name of your state (only U.S. law)? PA
(I already hate banks, as they never shouldv ebeen bailed out, the gov shouldve taken them over ,bypassing banks wouldve madeinterest rates lower since it wouldve no longer been gov lends banks money, banks lend consumers money, it wouldve went right from gov to consumers)

ok , now heres my problem/complaint. i applied for a Citizens bank checking account and at a few other banks and instead of them checking my chexsystems report, they checked my credit and said it was denied based on information in my credit report and i think they might have named Experian, doesnt matter which one though). my point is that if im NOT applying for "Credit", then they have no right to look at my "Credit" report. there shoudl be a law against this. they are lucky they are given the right to be in business anyways and dont tell me that they have the right because they want to just see how u handle accounts because its NOT a credit account when applying for a checking account. it just isnt. and if u think thry have the right, name one thing that isnt to do with credit that checks ur report, and i dont mean something like a job. so to be to the point, what gov. agency that isnt in the banks pockets can i contact to complain?

You agreed to have your credit checked when you applied for the account.

I suggest that you invest in a nice, deep mattress.

 

[Andy0192]

(note to kingofdaguppy: The government doesn't have any money that doesn't come from taxpayers...one way or another. More government isn't the solution to your problems.) /rant

If you don't like the bank's policies, you could try to open up your own bank or credit union, and make a point of accepting all those people with bad credit who cannot open accounts anywhere else. Sounds like a surefire successful business venture.

Since you're convinced the government is in cahoots with the bankers, why not just declare yourself a sovereign nation? Then you can be the head of your own government and also control your own bank.

 

[kingcuppie]

Zigner and Andy posted dumb comments

why cant u be logical in ur responses???
where do banks have the right to check CREDIT REPORTS, or to even ask us to allow them? its just not right, its fine for them to ask to dheck our chexsystems report, not credit reports.
i need to read the consumer credit reporting act or something , so i can complain, does anyone know which gov agency i can complain to?

 

[Zigner]

why cant u be logical in ur responses???

Why can't you communicate in English?

where do banks have the right to check CREDIT REPORTS

Right there on the application.

, or to even ask us to allow them?

The bank has (heck *I* have) the right to ask just anybody if they will consent to obtaining a copy of their credit report. It's YOUR choice whether to comply or not.

its just not right, its fine for them to ask to dheck our chexsystems report, not credit reports.

It is right. YOU are wrong

i need to read the consumer credit reporting act or something , so i can complain, does anyone know which gov agency i can complain to?

Complain about WHAT? Nothing improper has occurred.

 

[kingcuppie]

its discrimination

its discriminatory to deny a checking account based on a credit report.
thats why its wrong. think of this example, in the past a minorty or someone without ever having credit could get a checking account because, even though they had no prior credit cards or relationships, they werent in chexsystems, if they never had a bank account before, and therefore would be approved for a checking account. now do u understand why its wrong??? GEEZZ
ill have to contact my state senator about this.

 

[Zigner]

its discriminatory to deny a checking account based on a credit report.

Yes, absolutely, positively discriminatory. Now, your next task will be to read up on the definition of discrimination, as well as the definition of illegal discrimination. They are NOT the same

thats why its wrong. think of this example, in the past a minorty or someone without ever having credit could get a checking account because, even though they had no prior credit cards or relationships, they werent in chexsystems, if they never had a bank account before, and therefore would be approved for a checking account. now do u understand why its wrong??? GEEZZ

I STILL understand that YOU are wrong.

ill have to contact my state senator about this.

Go for it - the senator's peon clerk needs some practice on letters to constituents.

 

[davew128]

why cant u be logical in ur responses???
where do banks have the right to check CREDIT REPORTS, or to even ask us to allow them? its just not right, its fine for them to ask to dheck our chexsystems report, not credit reports.
i need to read the consumer credit reporting act or something , so i can complain, does anyone know which gov agency i can complain to?

How about the Dept. of Education? Apparently that one failed you as well.

Look, when a bank opens a demand deposit account, does it not run the risk that you may withdraw more than you have in it? Is that not, wait for it**************CREDIT???

THAT is what gives them the authority to run a credit check. No I don't agree with the policy and my own credit got dinged by an overzealous bank clerk running my information before I had even agreed to open an account at BOA (which I declined to). But the point is, ranting about it is a waste of time and crying about being a minority makes you look like a bigger idiot than you already do.

 

[Who's Liable?]

why cant u be logical in ur responses???
where do banks have the right to check CREDIT REPORTS, or to even ask us to allow them? its just not right, its fine for them to ask to dheck our chexsystems report, not credit reports.
i need to read the consumer credit reporting act or something , so i can complain, does anyone know which gov agency i can complain to?

YOU GIVE them the right to do a credit check on the application form.

It's ALL in the fine print.

 

[TigerD]

(1)they are lucky they are given the right to be in business anyways and (2)dont tell me that they have the right because they want to just see how u handle accounts because its NOT a credit account when applying for a checking account. it just isnt.

1. You cannot be given rights. Either you have a "right" that stems from the grace of your humanity, or you have permission. A business doesn't have rights. A business has permission.
2. A check is an instrument of credit. It is essential an IOU payable on demand at the bank. If you cannot handle your credit accounts, you probably cannot handle that credit account. Nor should you be allowed to possess one.

and if u think thry have the right, name one thing that isnt to do with credit that checks ur report, and i dont mean something like a job.

Insurance, car insurance, security clearance, background check, identity verification ... the list goes on.

so to be to the point, what gov. agency that isnt in the banks pockets can i contact to complain?

All kidding aside The fact of the matter is the larger the unit of government, the less likely they are to actually listen. So, you need to go to the Department of Transportation. They have limited authority over the banks (bank vehicles have to be licensed) and your local driver's license office usually deals petty stuff so they should be happy to listen and take your issue all the way up the food chain until they reach the Governor.

Go to the DMV and file your complaint there.

Good luck. Don't let those other posters get you down. You are a person; you have rights. The bank doesn't.

DC

 

[cosine]

You agreed to have your credit checked when you applied for the account.

I suggest that you invest in a nice, deep mattress.

I have the sense this OP doesn't really need a deep one.

 

[cosine]

Look, when a bank opens a demand deposit account, does it not run the risk that you may withdraw more than you have in it? Is that not, wait for it**************CREDIT???

There are many good reasons for a bank to deny providing a checking account to someone with bad tradelines on their CR (I'm assuming something bad is on the OP's CR). But this is not such a reason. Why? Because it is entirely under control of the bank to not honor a withdrawal in excess of the amount in the account. But, it is valid to be concerned that someone prone to certain excesses could still cost the bank money even if no payment on these withdrawals or checks is made.

THAT is what gives them the authority to run a credit check. No I don't agree with the policy and my own credit got dinged by an overzealous bank clerk running my information before I had even agreed to open an account at BOA (which I declined to). But the point is, ranting about it is a waste of time and crying about being a minority makes you look like a bigger idiot than you already do.

Your bad for giving them the info to run it with before finding out the process and approving if they do want to run it (not all banks do). I bet you won't make that mistake, again.

Actually, it is the terms (in the application or associated documentation) that give them the authority. Then their procedures, often not properly handled by overzealous staff, run amok and they may run it even before any agreement to do so.

Consider yourself lucky. There are cases (with a few major banks) where the overzealous have done worse to people (most recent I read was an account opened for them without them even knowing, which then ran up overdrawn fees because there was zero in it when the yearly fee came up). Irresponsibility is a disease that runs rampant in a great many banks (mostly the big ones).

 

[tammy8]

Go to walmart and get an account with their bank (I think it is woodland or something like that). They don't check credit.

However my sister, who is a senoir teller at her bank will not cash any checks written from this bank and when her members deposit the check into their own accounts, the money stays on hold for the maximam number of days allowed, until the check clears.

 

[Country Living]

why cant u be logical in ur responses???
where do banks have the right to check CREDIT REPORTS, or to even ask us to allow them? its just not right, its fine for them to ask to dheck our chexsystems report, not credit reports.
i need to read the consumer credit reporting act or something , so i can complain, does anyone know which gov agency i can complain to?

You'd better start making a list of people / institutions to complain about:

• Renting - landlords run credit checks. Deadbeats don't pay their rent.
• Mortgage loans - a credit check determines IF you'll get a loan and at what rate.
• Insurance - most insurance companies in most states use information from your credit report as part of the basis for rates.
• Loans - of any type
• Employment - most employers run credit checks.
• Education - well, this one might not be a problem for you. Any institutions of higher learning or technical schools require credit checks for financial aid.
• Financial Institutions - unless you're only depositing money (mutual funds, etc) they want to know your credit-worthiness. See #2 in DC's answer.
• Cell phone companies (unless you have a pay as you go account)

 

[cosine]

[*]Renting - landlords run credit checks. Deadbeats don't pay their rent.

Not all do. But many run either a credit check, or a check with previous landlords.

[*]Employment - most employers run credit checks.

This one is actually not true. If you had phrased it as "the employers of most jobs run credit checks" then it would be. The smaller employers tend not to run credit checks for employment. These smaller employers are greater in number than the larger employers. FYI, I've never had an employment credit check done. Most of my employment has been with smaller companies.

You left out utilities. Lots of them do run credit checks or require larger deposits (varies by state just how much or when they can do it). I do know that where I live, they are allowed to, but electric, gas, and water cannot deny service ... only require a (greater) deposit plus payment of all debts owed to them that are not discharged in BK. I have always chosen to pay extra deposit to refuse to give them my SSN (so it isn't exposed by yet more insecure computers).