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About tmcgill

  • Birthday October 24

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    Dallas, Texas

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  1. Thanks for the update.
  2. Another option: https://www.myconsumers.org/bank/account-tools/how-to-join **You may need to order checks online from someone like Vistaprint, etc.
  3. Chime Bank - www.chimebank.com Comes with bank routing and account number and Visa debit card. Currently, no monthly fees.
  4. Good advice. The BS with banks and credit unions never seems to change. Sometimes, the regulator and/or legal action is all they understand.
  5. Will look for any state laws that expand the FCRA for credit reporting. Also there are two separate complaints: 1. EWS is reporting obsolete info. Not sure if the reopen gives the original account a new DOFD, but I would still assert they are reporting obsolete information. 2. The financial institution failed to provide statements for the months transactions occurred. Therefore, you were not aware of the reopen and processing fees, with no opportunity to dispute them. (I think Reg. DD might be the one requiring the statement) https://www.consumerfinance.gov/ask-cfpb/does-my-bankcredit-union-have-to-send-me-a-monthly-statement-for-my-checking-account-en-965/
  6. BOA is one of the banks that founded Early Warning Services (EWS), so I guess they feel they can ignore federal law. Also, their reps have said negative info is only reported for five years. BOA and other banks and CUs use a statement in the account agreement to rip people off. When an account is reopened, they are required to send monthly statements. I would file a consumer complaint with both the Office of the Comptroller, and the CFPB ( at one time the OCC was referring banking complaints to the CFPB). 1. If the account was reopened, they were required to send periodic statements. Did you receive those? Did you get a final statement showing the closure and a zero balance? 2. What state are you in?
  7. Before applying again, double check and verify there are no negatives on Early Warning Services (EWS). EWS is the "fraud" watchdog CRA. Sometimes account holders get reported to them for closed accounts, even if there is no "fraud". If there are EWS negatives, it is more difficult to get a second chance approval. https://www.earlywarning.com/sites/default/files/2019-01/CIC%20Form-170215-0811-SAMPLE.pdf What is your city and state, we'll reply with possible options in your area. **Also, sent you a direct message.
  8. They can only report for 7.5 years from the date the account became and stayed negative. Dispute as obsolete and keep us updated on your progress.
  9. Dispute the accounts with EWS as "obsolete". The FCRA sets a 7.5 year negative reporting period after the account BECAME and REMAINED negative. After the account went negative and was charged off, was there any other activity (payments, account reopened, etc.)
  10. Closed For Cause - The bank or credit union's loss prevention determined the account terms were violated; unpaid overdrafts, kiting bad checks, etc.
  11. CFPB. But, have they been put to sleep?
  12. It happens, and also occurs when banks turn those charged off accounts to CAs. The CA then adds it to one or more of the big three. I guess the takeaway from this thread is the loopholes available to speciality CRAs, and how it negatively affects consumers.
  13. I thought it was already understood that EWS is a CRA for bank and credit union accounts. Credit card issuers have not been known to run EWS for approvals - or banks for loans. In the course of troubleshooting and helping others here on CB, I called Chase Bank about 3 years ago to ask why they reported charged off checking accounts to Experian, Transunion or Equifax - when they have already reported to Chexsystems. A couple was trying to buy a house, and the bank had reported them for a charged off bank account. I finally got a manager on the phone who said the bank provides the accountholder their processing services and the accountholder has a legal agreement to pay monthly transactional fees. She said accountholders deposit items for negotiation and Chase provides the funds until the issuing bank pays them. She said Chase has the right to report those accounts to the credit bureaus when accountholders owe them and don't pay.
  14. EWS is the fraud watchdog for **banks and credit unions** (It was created by several of the large banks.) That's the gray area. Is opening a checking or savings considered an extension of credit? I've had more than one bank say it is. Interested in hearing opinions and thoughts on this.

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