Credit Scores Can Run – and Ruin – Our Lives

Re:Credit Scores Can Run – and Ruin – Our Lives by formerkrogemp on Wednesday May 25, 2022 @11:17AM (#31505773)

Oh it's a little more pernicious than that. ChexSystems and a few other companies are used to check a database when cashing a check at major retailers in the US. Walmart and Kroger utilize this third-party vendor to deny check cashing (including payroll checks) to people who're on the same list as those who can't open bank accounts. Good luck getting that check cashed for less than $20-30.

Source: I used to work in retail.

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Re:Credit Scores Can Run – and Ruin – Our Lives by kkielhofner on Wednesday May 25, 2022 @11:53AM (#31506313)

Wow, I wasn't aware of this use of ChexSystems but from the standpoint of banks, check cashers, etc that makes business sense.

From the perspective of people trapped in this system paying 10% in fees to cash a $300 check is outrageous - but at this point it's more or less what they have to do and that's "just the way things are".

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Re:Credit Scores Can Run – and Ruin – Our Lives by nradov on Wednesday May 25, 2022 @04:25PM (#31510058)

That's why many larger employers (including Walmart) now offer unbanked employees the option of getting paid with a pre-paid card instead of a paper check.

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