Using Chex System or Lexux Nexus in Place of a Credit Report Answered by BOL Gurus Mary Beth Guard and Jack Holzknecht Bios
Question: When opening deposit accounts could we use Chex System or Lexus Nexus in place of a credit report and be in compliance with the Red Flags and address discrepancy rules?
Answer: The law does not require the use of a credit report on any loan or account.
BankersOnline is a free service made possible by the generous support of our advertisers and sponsors. Advertisers and sponsors are not responsible for site content. Please help us keep BankersOnline FREE to all banking professionals. Support our advertisers and sponsors by clicking through to learn more about their products and services.
Print Friendly!
Email This Article!
Discuss NOW!
