Good Morning,
The BCFP (Bureau of Consumer Protection - formerly the CFPB) recently rolled out new notice requirement under the Fair Credit Reporting Act (FCRA) that applies to Consumer Reporting Agencies (that’s US), and end-users of consumer reports (that’s you).
Specifically, the notice adds new subsections to section 605A of the FCRA (Fair Credit Reporting Act), which has to do with identity theft prevention, fraud alerts and active duty alerts. It requires that “any time a consumer is required to receive a summary of rights required under section 609” (i.e., file disclosure, adverse action, etc.) that they receive specific language as it relates to the “Economic Growth, Regulatory Relief, and Consumer Protection Act” (PL No. 115-174). The Economic Growth, Regulatory Relief, and Consumer Protection Act mandates that whenever the FCRA requires a consumer to receive either the Summary of Consumer Rights or the Summary of Consumer Identity Theft Rights, a notice regarding the new security freeze right also must be included. The Summary of Consumer Rights is a summary of rights to obtain and dispute information in consumer reports and to obtain credit scores. The Summary of Consumer Identity Theft Rights is a summary of rights of identity theft victims.
Although additional regulations are no fun for anyone; have no fear we have you covered! New templates for both the Consumer Summary of Rights Under the FCRA and the Consumer Remedying the Effects of Identity Theft are included with this compliance update and are ready to use.
We are rolling out these new notices with our newly updated SAMPLE Disclosure and Authorization forms, (Links Below), that contain the latest in state specific notices and other verbiage changes to help you remain compliant in the ever changing arena of employment law. As always, we advise you to review Disclosure and Authorization forms, FCRA notices, Adverse-Action notices, and any other on-boarding procedures with competent legal counsel to ensure compliance with your particular situation and location.
If you have any questions please don’t hesitate to reach out to us and we’ll happily assist you. We thank you for your business, and greatly appreciate you choosing our team to serve you and your organization!
Sincerely,
Chas A. Scott
President
EDIFY Background Screening
888-503-3439 | 336-303-1099
support@edifyscreening.com
www.edifyscreening.com |
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