Answer:
ChexSystems is a credit reporting agency (CRA) under the Fair Credit Report Act. In order to obtain a report from a CRA, a bank needs a permissible purpose for that report. Fiduciaries and agents are not personally responsible for transactions in or overdrafts on accounts as long as the fiduciaries are acting on behalf of their principals. Accordingly, without express permission of the agent or fiduciary, the bank has no permissible purpose for requesting a report.
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