Legal Question in Civil Litigation in Florida

Securities Trading Account Application Denied

My securities trading account application with a brokerage firm was denied with the reasoning that there was some information in my public records that caused them to decide against opening my account. Their policy is not to disclose the exact information that caused the problem. I'm not aware of any damaging information about me.

Is there any way I can force the broker to disclose what the offending information is?


Asked on 4/19/05, 3:32 pm

1 Answer from Attorneys
John Corbett Corbett Law Firm LLC

Re: Securities Trading Account Application Denied

Under the Fair Credit Reporting Act, the source of adverse credit information must be disclosed to you in writing if you make a written request for it. The report itself need not be disclosed by the party that denied you credit, but the reporting agency must send you a copy free of charge if you make a written request to them.

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Answered on 4/21/05, 9:38 pm


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