San Francisco’s Office of Financial Empowerment newest report:

Blacklisted: How ChexSystems Contributes to Systemic Financial Exclusion, tackles the unfair, unequal, and opaque consumer banking systems that have blacklisted so many low-income consumers, immigrants, and in particular Black consumers from the financial mainstream. To address the flaws in the system, OFE recommends urgent reforms to agencies like ChexSystems and the financial institutions that use them. Reforms include creating clear and uniform definitions and policies related to banking history data, reducing the impact of overdrafts on account closures and denials, eliminating the use of account screening consumer reporting agencies for customers opening Bank On certified accounts, and developing robust resolution processes that create pathways to banking for consumers. OFE also outlines recommendations for financial coaches.