Posted By: beegee
chexsystems - 03/24/05 10:25 PM
It is our account opening procedure to NOT open an account for individuals if they have EVER been reported to chexsystems. However, exceptions to this policy are routinely made. Should I be concerned about any discrimination issues?
We are a $1 billion institution. What are other banks procedures on this?
Also, is there any empirical data out there on a correlation between the time frame of being reported to chexsystems and the probability of account charge-off.
We are a $1 billion institution. What are other banks procedures on this?
Also, is there any empirical data out there on a correlation between the time frame of being reported to chexsystems and the probability of account charge-off.