I had a checking account with a bank for almost a month. Then out of the blue, without any notice, the bank closed it and said it was due to having something old on Chexsystems. I dont see anything in my agreement relating to closing an account for any reason. Can you tell me what the law is on this in Texas?
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Banks are private entities and can do business with whomever they want, the same as you have a choice about with whom who you bank. Your deposit agreement probably has text something like this in it:
"We reserve the right to close your account at any time for any reason. We are not
responsible for any items, checks, or Electronic Funds Transfers returned after your account has been closed. You shall indemnify and hold."
Your bank completed its investigation and decided not to keep you as a customer. Different banks have different policies. Start looking for another bank. You might make them aware of your report, so that they can tell you right away if it matters to them.
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Banks are private entities and can do business with whomever they want, the same as you have a choice about with whom who you bank. Your deposit agreement probably has text something like this in it: