**ChexSystems Importand Update

Discussion in 'Credit Talk' started by LTrask, Sep 30, 2000.

  1. LTrask

    LTrask Guest

    On Thursday, the Wall Street Journal reported that Bank of America will revamp its reliance on Chex Systems information. If a prospective account holder has paid all past due bank overdrafts, and has not had an account closed within a 3-year period, it will open an account. It is also extending the amount of time before an account is reported to ChexSystems, giving the consumer more time to correct any overdrafts.

    One small progressive step and proof that ChexSystems need an overhall.

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