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Use Credit Score to Determine Transactions?

Answered by: 

Can a credit score be used to determine the transactions performed on a deposit account, i.e. placing a hold on a check for $500 because their credit score is below 650?

No. Such a policy or procedure would be in violation of FRB Regulation CC.

First published on 6/11/12

First published on 06/11/2012

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