Sunday, August 18, 2013

Some low-income consumers have trouble getting "good" checks cleared or approved because of data broker mistakes

Michelle Singletary has a story in the Sunday Washington Post Business Section, Aug. 18, “Keeping consumer-reporting agencies in check”, link (website url) here.

The story focuses specifically on personal check clearing, and the possibility that someone’s check will be denied because of incorrectly stored information from other retailers.  It talks about a settlement against Certegy Check Services by the FTC.

Some consumers have no other way to pay but by check, and consumers were required to make unreasonable efforts to correct information with the data broker. 
  
Some retailers have the ability to clear checks electronically on site, which would eliminate problems.

I worked for Chilton (now Experian) in Dallas in the 1980's, and one of its subsidiaries was Telechek, which approved checks at cash registers.   

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