Attn: Bank Representative
Re: My request to inspect your CRA files

Thank you for the time spent making available to me your Community Reinvestment Act files.

Your bank's policy regarding ChexSystems is one of the reasons I was compelled to ask to look at your CRA files.

Many banks have one or more of these policies, which are unfair.

1.) Deny an account based solely on a "one strike and you are out policy". Perhaps a credit report in addition to a ChexSystems report is a better method for evaluation?

2.) Deny a savings account. What risk is there to the bank with a savings-only account? Consider putting a longer hold on deposited funds if you need to, or something else, but don't have the policy where you deny even a simple savings account.

3.) Won't update the consumer's record after the incident is resolved. Banks that do not submit updated information to ChexSystems punish the consumer for years as the consumer's ChexSystems record never shows that the consumer made good on the account.

Please do what you can to have these policies revisited.

Did you know?

Your bank may be supporting the competition!

ChexSystems is owned by Deluxe, which also owns Current Checks (aka Checks Unlimited) and Designer Checks. These subsidiaries sell blank checks direct to the consumer and market themselves through direct mail and on the internet. Certainly they appreciate you providing to them the names and addresses of potential customers (via a ChexSystems inquiry) which might be used in a direct marketing initiative.

By supporting ChexSystems, you are helping to fund the organization which competes against you by selling blank checks directly to your customers.

Here are the web sites for the Deluxe subsidiaries:
  http://www.checksunlimited.com/
  http://www.currentinc.com/
  http://www.designerchecks.com/

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