Consumer complaint received 2021-07-14
Company: Fidelity National Information Services, Inc. (FNIS)
State: CA
Product: Credit reporting, credit repair services, or other personal consumer reports
Sub-product: Other personal consumer report
Issue: Problem with a company's investigation into an existing issue
Sub-issue: Was not notified of investigation status or results

Complaint:
ChexSystems Consumer Assistance I just spent a few days looking over the Federal Credit Reporting Act - FCRA well written for protection of the consumer and their transactions with retail businesses. It however does NOTHING to protect the consumer and his personal Bank accounts, from being closed without warning by the banking industry. 

Brokerage, or any other banking institution accounts where he has placed his money for safe keeping by the Banking Industry, is also subject to Credit Reporting Agencies. FCRA gives them the right to collect information including the Consumer 's transactions with the banking Industry, negative balances, and what ever else is unknown at least to the consumer. 

What this information does is to allow the banks to keep track of credit scores and banking history to start with, but it also allowing the banks to close your bank account, brokerage and other offered banking services, and the banks do close your account without warning, education, or consultation and NO REASON given at least not one quantifiable, in addition NO CRIME. The credit reporting agencies. in particular ChexSystems who has 80 % of the market, is using the bank data to keep score of the consumer 's bank usage, debit card user, and what else only the reporting agencies know. Monitoring debit card usage means that the consumer 's debit card can be declined to charge at businesses that have not maintained a favorable complaint score, or use their supposed moral authority, and who knows what that means, only the reporting agencies, and do they have the moral authority. 

Accounts are closed without any apparent consideration with the user, no consultation during investigation (? ), no training, no education, I had four closed last year you would think that someone interested in consumer protection would have seen and red flagged the number of closures alone, If your account has BillPay all your payments are no longer made, has the user kept track of their bill pay. ChexSystems who subtitles claims Consumer Assistance, and I use them since they have eighty percent of the market, does not publish anything on their website in regard to their scores or what scores they keep on consumer 's bank usage, nor do they publish the list of businesses they keep complaint scores on, and may reject your debit or credit card charge on for too many complaints. Why does this matter because I didn't get any more information from the banks when they closed my accounts nor was ChexSystem 's name mentioned by any bank as being the source, it has only been bits and pieces here and there and searching that the ChexSystem came up. How do correct user behavior, if the problem is not known and doesn't that just compound the issue. 

My first account closure, came as a surprise, I logon and get a message my account to find that I now have limited access, I call customer service and find that my account is under investigation for possible fraud, and that's about all the information I was given. I had no idea what fraud they were talking about or anything else that would be wrong, I call back a few days later to see how things were progressing, and I speak with someone in the fraud dept. and I get a little more information as to what is going on, they are concerned about the money leaving my account, the money appears to be going for gift cards, and I was asked to file a police report, as, yet I had still not heard of anything illegal and yes I sent gift cards to women I had not met on the Internet, sending money to someone you do not personally know seems to be a negative, and there was no effort given to ascertain any information about those people I was sending money to, that I know of and had provided some information and was not asked for more. There was a continuing request to submit a police report, to which I finally succumb and called the XXXX Police Department to enter a police report, I told them what it was about, and answered all their questions and was told that no crime had been committed, and NO Police REPORT could be submitted. I was able to file and Incident report, and submitted this to have my account restrictions lifted, only to have the account closed several days later.

While I had been trying to get the restrictions lifted, I had two women waiting on me, one with a daughter that was in a hospital with a XXXX XXXX XXXX that could not get the right medicine because it was not on a approved list. The other woman a would be XXXX  was stranded in XXXX XXXX XXXX having attended a modeling audition, and needed money, which I was logging on to transfer. 

If I had been a criminal, I would have gotten better treatment because of the Constitution, rather than a victim treated worse than a criminal, not only that since there appears to a score kept all other closures only compounds subsequent negative transactions with the banking industry become easier, as does the consequences become worse. The banks shutting down you account warning or explanation have created a 'Catch 22 ' situation as witnessed by having four bank closures last year. The banking industry from Chex Systems to all contributing banks that have the clause in their user agreement that says they have the right to close your account " with little or no reason '', is not approbiate for their inustry, for retail business yes.

Company public response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
Company response to consumer: Closed with explanation