Business and Personal Finance Dictionary

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• DEBIT BUREAU
  
  A service used by banks that will eventually track account opening and closing information, check order history, check writing history, any history of collection activity on unpaid accounts, frequency of debit and ATM card use and household demographics. Under the system, when a consumer presents a check to a participating retailer, the individual''s account is identified by punching a code into a computer or swiping a card containing a magnetic strip or microchip through an electronic reader, which tells the retailer whether to accept or reject the transaction.
  
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