senerio a consumer goes to open an acct with wells fargo the account is for a child savings and the parent has to be listed in trust for. wells fargo procedures to open any acct require the trustee SS# to be run through chexsystems. everything is clear there, next says sorry we are unable to open an acct for you and hands them a form that says we regret we can not open an acct for you at this time due to the information contained below from this CRA ( EQUIFAX) hold the wagon who gave them permission to run my credit for this ??? nothing was ever signed, nothing was every verbally mentioned that this was going to occur. the CSR then says new bank policy huh? now there is a hard pull on my report ! I can understand if it was checking acct with overdraft protection, line of credit or credit card but for a childs Savings acct ?? need advise, please go easy on me hiding lol
ok - i work for a bank and when you sign paperwork to open the account it should say whether or not they will pull credit - not all do. i recently applied for credit through where i work for my kids' accounts and they pulled a hard. i complained to my superiors because no where did it say that. apparently they didn't know they were pulling hards - their contract through the CRA was supposed to be softs only, so they were grateful i said something. if i were you i would complain to management citing your credit record has no bearing on your childs account. that to me is just plain wrong.
LOl sue the kid ?? for the adult trying to open the kids savings acct instead of the bank.. okay its past happy hour now lol
