Risk of Loss in MS [Consolidated]
Aug 20, 2014, 3:57 pm
#136
Join Date: Feb 2014
Posts: 511
Account closures for suspicious activity get reported to Chex, which your other banks can and do pull, much like Chase or Amex soft pulling your credit every month.
There are plenty of instances of people getting shut down at one institution and it creates a cascade of closures at others when risk management at other banks see the negative closure. Can take years to repair.
