FCRA
Fair Credit Reporting Act (FCRA) - Answer- Regulates consumer credit information
Any private employer seeking a credit report on an applicant or employee (private
sectors with > = 1 employee, all public) - Answer- Covered employers under FCRA
Consumer Credit Report - Answer- Any communication of information by a consumer
reporting agency bearing on a consumer's credit worthiness, character, or reputation,
which is to be used as a factor in assessing eligibility for employment purposes
(including criminal background)
Investigative Report - Answer- Report containing similar information, but also based
on personal interviews with friends, neighbors, and other associates
Federal Trade Commission - Answer- Governing agency that ensures compliance
and responsible for enforcing FCRA
1.) Written notice to obtain and use information for decisions related to employment
2.) Written consent
3.)Certify compliance to the company from which you are getting information -
Answer- FCRA Employer Obligations
1.) Notice that includes copy of consumer report you relied on to make decision
2.) Copy of report and "Summary of your Rights Under FCRA" -FTC version -
Answer- Before you take adverse action (terminate, deny promotion), you must give
applicant or employee (2):
5 day (probably) - Answer- If you take adverse employment action against the
applicant or employee based on the information in a consumer report you must give
the individual notice within how many days?
1.) Agency name use
2.) Statement that agency did not take adverse action
3.)Right to contest any information and seek a free credit report within 60 days -
Answer- What must the notice state according to FCRA? (3)
Cannot be use in violation of federal/state EEO laws (disparate impact) - Answer-
Employer Restriction of FCRA
Consumer Financial Protection Bureau - Answer- Chief enforcer of FCRA as of
January 2012
Fair Credit Reporting Act (FCRA) - Answer- Regulates consumer credit information
Any private employer seeking a credit report on an applicant or employee (private
sectors with > = 1 employee, all public) - Answer- Covered employers under FCRA
Consumer Credit Report - Answer- Any communication of information by a consumer
reporting agency bearing on a consumer's credit worthiness, character, or reputation,
which is to be used as a factor in assessing eligibility for employment purposes
(including criminal background)
Investigative Report - Answer- Report containing similar information, but also based
on personal interviews with friends, neighbors, and other associates
Federal Trade Commission - Answer- Governing agency that ensures compliance
and responsible for enforcing FCRA
1.) Written notice to obtain and use information for decisions related to employment
2.) Written consent
3.)Certify compliance to the company from which you are getting information -
Answer- FCRA Employer Obligations
1.) Notice that includes copy of consumer report you relied on to make decision
2.) Copy of report and "Summary of your Rights Under FCRA" -FTC version -
Answer- Before you take adverse action (terminate, deny promotion), you must give
applicant or employee (2):
5 day (probably) - Answer- If you take adverse employment action against the
applicant or employee based on the information in a consumer report you must give
the individual notice within how many days?
1.) Agency name use
2.) Statement that agency did not take adverse action
3.)Right to contest any information and seek a free credit report within 60 days -
Answer- What must the notice state according to FCRA? (3)
Cannot be use in violation of federal/state EEO laws (disparate impact) - Answer-
Employer Restriction of FCRA
Consumer Financial Protection Bureau - Answer- Chief enforcer of FCRA as of
January 2012
