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Report: #1510474

Complaint Review: Chex Systems, Paul Walsh, CEO - Woodbury Minnesota

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  • Reported By: ChexSystems & FIS Global Harm the American Consumer — 90210 California United States
  • Author Confirmed What's this?
  • Why?
  • Chex Systems, Paul Walsh, CEO 7806 Hudson Road Woodbury, Minnesota United States

Chex Systems, Paul Walsh, CEO Gary Norcross James Woodall Bruce Lowthers Martin Boyd ChexSystems and FIS Global -- Global Corporations that sell your data and blacklist you with American banks -- WARNING Woodbury Minnesota

*Author of original report: Why waste your time telling lies? Do your homework!

*Consumer Suggestion: Hilarious

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Did you know that more than 95 percent of commercial banks and credit unions in the United States use ChexSystems to screen applicants for checking and savings accounts?  ChexSystems stores millions of  names of consumers whose bank accounts had been closed "for cause".  Services include verification of identity, reports on account history, and transaction monitoring.   

This is what happened to me: The problem is that financial institutions are rejecting applications for bank products and saying that ChexSystems gave them information that they used to decline the applications.  ChexSystems is lying.  I did in fact ask for my credit report rating.  Why is ChexSystems even involved in credit reporting ratings? Their work is with banking not credit cards. 

The company should be investigated for its credit report rating system that does not allow the public to dispute the secret information used to come up with that score.  It should have to follow the same federal laws that Equifax, Experian and TransUnion follow as far as being transparent and having to interact in a transparent way with the public.  ChexSystems is a very powerful company that can blacklist someone from doing banking in the United States.  When a person is "unbanked," usually ChexSystems is responsible for the reports that over 95% of banks use to determine client risk.  

The problem I was having with ChexSystems is a grey area in consumer reporting: Banks can say that ChexSystems gave them a secret credit reporting number and ChexSystems can deny that.  What is the consumer supposed to do when that happens?  The banks can also withhold any comprehensive information about why the consumer application was denied.  Like I said above, the big three credit reporting agencies are not allowed to do this, why is ChexSystems?  ChexSystems plays games with consumer information.  It is owned by a transnational, global corporation that is compiling personal financial information on citizens from many countries. 

Currently, the Chinese government uses this kind of information for a "social score" which is given to each Chinese citizen and used to determine whether or not they can bank, travel, what school they can go to -- I'm sure you've read articles on the subject.   ChexSystems is part of a global network of faceless corporations that are using American customer information for what purpose?  Why is there no adequate federal oversight of ChexSystems and its parent company? 

It takes two minutes on Wikipedia to verify all of this.  The Minnesota AG's office is uniquely positioned to investigate and expose Minnesota-based ChexSystems for selling personal information through its global parent company and blacklisting lower income Americans who are on their secret blacklist that consumers can't get at and correct for negative and false information.  There is no roadmap for the American consumer who gets blacklisted by ChexSystems to correct their financial reputation.  But federal consumer protection law requires that all data collecting companies like ChexSystems provide an easy-to-access way to dispute all information retained by those companies.  

Americans in the millions who are unbanked instead turn to predatory lenders because they can't get regular bank accounts.  If you look closely at who those people are...they are people of color and your office should be interested in digging deeper to see if there is any systemic, institutional racism being used to "grade" American consumers for this secret banking score.   I wish someone would do something about this company to make it compliant with federal consumer protection laws.

ChexSystems uses snail mail for correspondence but is part of a 21st century, global operation that uses high tech software and surveillance.  It is not transparent, it is not consumer friendly and it is not up-to-date.  I think it's time for ChexSystems to update its consumer interaction so that consumers can log in on their own on their website and fix any mistaken information.  It should have consumer online login dashboards for any consumer who wants private access to their own information. 

This report was posted on Ripoff Report on 07/28/2021 05:42 PM and is a permanent record located here: The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year. Ripoff Report has an exclusive license to this report. It may not be copied without the written permission of Ripoff Report. READ: Foreign websites steal our content

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#2 Author of original report

Why waste your time telling lies? Do your homework!

AUTHOR: Thom - (United States)

POSTED: Saturday, July 31, 2021

 What you're saying here is false. ChexSystems used to be that way but it has branched into credit reporting. I have not had any overdrafts with my banking, never had any problems with banking. ChexSystems has information on you, too. Go ahead and ask them. They have files on anyone with a credit rating. It's common these days to dismiss what others say based on pure emotion and ignorance (in your case). Find out the facts before you say things that aren't true.

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#1 Consumer Suggestion


AUTHOR: Flint - (Afghanistan)

POSTED: Friday, July 30, 2021

I do think it's hilarious that you think someone actually cares about your problems with Chexsystems.  The one and only way they would even get your information is if a bank reports you for trying to defraud them by writing bad checks or overdrawing your account.  Banks usually like having customers, so they only do this as a last resort.  Blaming Chexsystems for your crappy behavior is not going to help your situation.  Instead, how about paying your debts and not trying to commit fraud going forward?  Crime rarely pays.

As far as the rest of your complaint: they are a credit reporting agency and are regulated the same way as Equifax.  You can get a copy of your record, there is nothing secret about it.  They have a free online form.  You fill it out, they send you a report, you can dispute any information on it that is inaccurate.  Unfortunately for you, the information is generally accurate, which is probably why you have had so much trouble.

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