This article however isnt about the big three as they are now called. It is about the CRAs you have never heard of which means you dont know they exist. If you dont know they exist, you dont know their potential danger to your personal financial health.
ChexSystems Banking vs. Consumers
Today, more than 20 million US citizens are living without a bank account. The primary reason is due to ChexSystems’ dominating presence within the consumer banking world. It is estimated that over 80% of all banks and credit unions in the United States, use ChexSystems to verify new customer accounts. Most individuals listed in the ChexSystems database were reported due to mishandling of their checking accounts, while the rest were attributed to abuse, fraud, or errors.