Employers who use consumer reports for employment reasons must disclose new information effective September 21, 2018. A new provision of the federal Fair Credit Reporting Act (FCRA) necessitated the Consumer Finance Protection Bureau (CFPB) to release an interim final rule and update the following sample forms:
- Summary of Consumer Rights – a summary of rights to obtain and dispute information in consumer reports and to obtain credit scores
- Summary of Consumer Identity Theft Rights – a summary of rights of identity theft victims
The rule requires that a new notice of rights be included in the summary of rights.
Employers can either (1) use the updated model forms, or (2) include a separate page that contains the additional required information to be provided along with the 2012 sample forms. Links to the model notices are available in English and Spanish at the CFPB website.
If you have questions or need help, please contact one of our benefits consultants.