cancel
Showing results for 
Search instead for 
Did you mean: 

What bureaus do brokerages use and report to, other than the big 3 credit bureaus?

tag
TyrannicalDuncery
Regular Contributor

What bureaus do brokerages use and report to, other than the big 3 credit bureaus?

What bureaus do brokerages use and report to, other than the big 3 credit bureaus? I'm especially interested in bureaus that record "non-terrible" events, like the opening and closing of accounts, or the pulling of scores.
 
My quick ctrl+f through this document from the CFPB did not find the words "broker" or "stock," but I confess I did not actually read it. Plus I don't know whether maybe every brokerage implicitly comes with a bank account, and some of the process that goes with that.
As I understand it, Chex Systems records not only "terrible" things like fraud and stuff, but also "normal" things like account openings and pulls from Chex systems. But that's for banks. Is there something like this for brokerages?
 
Similarly, I would like to know what bureaus brokerages pull data from, although this is a much lower priority for me. My quick google seems to suggest that they often do a soft credit pull, and no Chex pull. But I could be wrong, and there are other bureaus out there....

 

3 REPLIES 3
GatorGuy
Valued Contributor

Re: What bureaus do brokerages use and report to, other than the big 3 credit bureaus?

Some use Chex, some use Early Warning System. Fidelity definitely pulls EWS.

Message 2 of 4
cem13
Established Contributor

Re: What bureaus do brokerages use and report to, other than the big 3 credit bureaus?

I use TastyTrade and they SP Equifax when I opened an IRA.  I already have a Brokerage account with them.  However, they saw the need to SP me on the new account.

FICO 08 JUL23: TU 850; EQ 846; EX 843. Clean since BK7 D/C 6/2011.
Message 3 of 4
TyrannicalDuncery
Regular Contributor

Re: What bureaus do brokerages use and report to, other than the big 3 credit bureaus?

I was hoping I could get the TastyWorks SUB without pulling Chex or otherwise messing up my banking. You think my chances are any good?

Message 4 of 4
Advertiser Disclosure: The offers that appear on this site are from third party advertisers from whom FICO receives compensation.