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Home >> Accounts >> Checking Accounts
10 Year Old Fee Comes Back to Haunt
I am living in Indiana, and used to live in North Carolina. When I went with my wife to get my name put on her checking account, the bank said that there was something from a bank in Noth Carolina blocking me from opening or getting put on her account. They gave me the name of the bank, and it was a bank from over 10 years ago! I call the bank, and apparently, back when I closed that account, they levied some fees and I actually owed the bank $35.00 or so. Can they actually block me on a ten year old debt?
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 Ask the bank where it learned of that old information. If it came from a report obtained from a credit reporting agency (such as Chex Systems), it should not, by law, have been reported. The Fair Credit Reporting Act requires that information that is more than seven years old should not be included in a credit report.
The Indiana bank should have provided you with contact information for the credit reporting agency, if that was the source of the information. You have the right to contact the credit reporting agency and to ask that it issue a corrected report that omits any reference to such stale information, and to refrain from including that information in any future report. The Indiana bank should have ignored the old information; however, there are no fair deposit rules that require the bank to agree to your request.
Published on BankingQuestions.com 11/19/09
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