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Denying Accounts To Criminals

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I have a customer who comes and in wants to open a deposit account, but he has a criminal record for bogus checks or forgery. Do I have to open the account or can I deny them?

You do not have to open the account. If you obtained the information about the criminal record from a consumer report (as defined in the Fair Credit Reporting Act), you will have an obligation to provide the applicant with an adverse action notice that provides the name, address, and telephone number of the consumer reporting agency that provided you with the information.

First published on 9/3/01

First published on 09/03/2001

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