Bank of America Reveals How They Use ChexSystems
Bank of America has revealed how and why they use ChexSystems. In an interview with The Consumerist, a Bank of America VP spoke anonymously about how and why they use ChexSystems.
The story stems from Bank of America denying and basically banning an individual from doing business with the bank, but never giving the young man an explanation as to why. It appears that James has good credit and other than a reporting mistake from either ChexSystems or his credit report, the bank would have no reason to not do business with Jesse. Read more here.
Unfortunately, it looks like Jesse may have to find banks offering second chance checking accounts in Connecticut due to the arrogance and stupidity of Bank of America.
