Consent Disclosures

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Question:

Is an email consent disclosure considered "written consent" for ChexSystems? I have a lender who would like to email the ChexSystems consent disclosure to account owners and use their reply to the email as proof of consent. Does this satisfy the requirement that the consent be in writing?

Answer:

Why is a lender pulling a ChexSystems report? It is a credit report, so if you are entering into a transaction with the individual, then you automatically have a permissible permission. Whether or not you can pull a ChexSystems report under whatever circumstance with which you are dealing is based on what is allowed under your contract with ChexSystems.