While trying to open a checking account with our local credit union, my husband learned that someone had opened a checking account with US Bank using his social security number but another name.
US Bank had closed the account due to account abuse and reported the debt to Chex Systems. Since our bank uses Chex Systems, we were denied our checking account.
We called the fraud help line and they were little help. When I called to ask for a number and address to a local branch so that we could send an affidavit of identity theft, the US Bank representative rudely told me that she didn't have to speak to me because my social security number was not compromised. I only wanted general information so that I could solve the problem. I wanted to be sure to send the correct documents to the correct address, not acquire sensitive information about the potential perpetrator. The conversation went nowhere.
Finally, my husband called a local US Bank and was transferred to the Branch Manager. He asked him how this could possibly happen and whether or not they actually compare social security addresses with names. The Branch Manager stated that US Bank does not ask to see a person's social security card unless that number has a history of account abuse. They do not check to see if the name and social security numbers match. The way we understand it is that the account is opened even if a bank official notices that the social security number and name do not match.
When asked if he would consider changing the policy regarding unmatched names and numbers. The Branch Manager stated that his institution would not change the rules unless forced to do so by federal law. This man is a genius!
If the idea of someone using your social security number to open a bank account scares you as much as it does me, then I implore you to utilize this US Bank employee's idea and contact your federal representative. Ask him or her to make it illegal for a bank to open a checking account for anyone whose social security number does not match the name on their I.D. Card. Ask your representative to impose financial penalties for those banks that refuse to protect consumers.
I've done business with several banks: to my knowledge, each and every one of them verified my social security number. Our local phone company did as well. I do not understand why a national bank can't do their part to prevent loss and identity theft.
This needs to change, now.
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