Databases of banking mistakes leave consumers without accounts

07/31/2013 | New York Times (tiered subscription model), The

More than a million U.S. consumers are unable to get banking accounts because of past errors, such as overdrafts, that show up in bank-owned databases when they apply for new accounts. Banks say the databases help them avoid high-risk customers. Consumer advocates argue that the rejections disproportionately affect those with low incomes and leave them to pay higher fees for alternative products.

View Full Article in:

New York Times (tiered subscription model), The

Published in Brief: