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Can one bank stop me from opening an account at another bank?

Regarding consumer accounts such as checking, savings and CDs, there is no legal regulation that would allow one bank from preventing a customer from opening an account with another bank. If a bank customer has had credit problems at a bank and this bank has reported the issues to a credit reporting company this may indirectly prevent someone form opening another account. But, even when banks review a potential customers credit profile, there is no automatic approval or disapproval system in place. Each bank that reviews someone’s past banking credit problems and makes an independent decision on whether to allow that person to open an account.

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