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#2284355 - 05/10/23 01:48 PM account close out and chex systems?
SmallBankBSA Offline
100 Club
Joined: May 2018
Posts: 248
Good Morning,

when closing an account and issuing a close out letter, is it a regulatory requirement to include in the letter that we will be reporting to Chex systems if they owe us money?
Obviously worded differently in the letter!
I'm new to this side of compliance and want to get my facts straight!
Thank you!

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Operations Compliance
#2284357 - 05/10/23 02:04 PM Re: account close out and chex systems? SmallBankBSA
rlcarey Offline
10K Club
rlcarey
Joined: Jul 2001
Posts: 85,440
Galveston, TX
They are not a Nationwide Credit Bureau, so there is no negative information reporting notice required.
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The opinions expressed here should not be construed to be those of my employer: PPDocs.com

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#2284359 - 05/10/23 02:09 PM Re: account close out and chex systems? SmallBankBSA
SmallBankBSA Offline
100 Club
Joined: May 2018
Posts: 248
Thank you!!

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