Deposit Account
Get answers to your questions about Bank of America deposit accounts. Whether you are looking for a routing number, setting up a direct deposit, or looking for a SWIFT code for international deposits - get your questions answered.
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- Get answers to your questions about Bank of America deposit accounts. Whether you are looking for a routing number, setting up a direct deposit, or looking for a SWIFT code for international deposits - get your questions answered.
Deposit Account Vs Checking Account
Deposit Account Vs Checking Account
The FCRA applies to the ability to access a credit report and notice when a product or service is denied. If you have a legitimate business reason, such as a customer wanting to open a deposit account, you can access a consumer report.
I don't know where your cite is from, but 615(a) says that adverse action resulting from a consumer report requires notice.
So, denying an account because of a consumer report when you attempted to verify an ID would, in my opinion, qualify as a disclosable fact. This puts the consumer on notice so that if information is incorrect, they may investigate and have it corrected.
First published on BankersOnline.com 1/5/04