Released: August 02, 2013

NY State iInvestigates disqualification of customers by banks

New York State’s top prosecutor is investigating some of the nation’s largest banks in connection with their use of credit-reporting databases that disqualify people seeking to open checking or savings accounts — an inquiry that has gained urgency as the ranks of the unbanked has swelled in the aftermath of the financial crisis.

The New York State attorney general, Eric T. Schneiderman, sent a batch of letters seeking information to six banks on Thursday, including Bank of America, Citibank and JPMorgan Chase, people briefed on the matter said.

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