The New York attorney general's office says Citibank has agreed to revise its screening of those seeking to open checking or savings accounts so applicants are not rejected for past isolated or minor banking errors.
The changes effective mid-March involve bank policies governing use of ChexSystems, a database for analyzing applicants' banking history and protecting against fraud.
Authorities say screenings by ChexSystems and other reporting agencies more often filter lower-income applicants, forcing them to use high-cost services like check-cashing outlets.
They add more than 3 million New York households have either no bank account or do but also rely on high-cost services.
Citibank’s agreement follows a similar move by Capital One.
© 2015 AP
