NEW FORM – Federal Consumer Financial Protection Bureau Releases New Model FCRA Summary of Rights

On September 12, 2018, the federal Consumer Financial Protection Bureau issued new versions of the “A Summary of Your Rights Under the Fair Credit Reporting Act” disclosure form in both English and Spanish.  Under the Fair Credit Reporting Act, employers and background check companies are required to provide the disclosure form to employees and job applicants at certain times during the background check process.

Employers are required to start using this form no later than September 21, 2018.  In addition to using this new form, employers are  required to provide the applicant/employee with a notice regarding their new security freeze rights available under the Economic Growth, Regulatory Relief, and Consumer Protection Act.  This notice is included in the new form.

It is recommended that all employers update their forms prior to September 21, 2018, to avoid any gaps in compliance.