Wednesday, February 3, 2016

Santander Bank NA and chexsystems

Santander Bank NA. on last Friday became the latest bank to agree to facilitate the selection process for potential new customer accounts and checks so that spikes minor on their credit reports not to lock them obtain bank accounts, he told the New York Attorney General Eric Schneiderman.
The unit of US depository Spanish banking giant Banco Santander has agreed to reconsider how they use ChexSystem and other credit reporting companies consumption in assessing applications from potential new customers.

Santander will continue to monitor credit reports for fraudulent customers in the past, but no longer will block the opening of new accounts, where they are isolated overdrafts and other banking minor errors in their files.


The agreement comes after an agreement with Santander in January by Citibank NA and a similar agreement with the Capital One Financial Corp in June. All told, the three banks have a total of 613 branches in New York and 2822 branches across the country, according to Schneiderman office.

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