Beginning Immediately: New Version of FCRA Summary of Rights
PLEASE read the short article below about the NEW version of the FCRA Summary of Rights that was issued by the Bureau of Consumer Financial Protection Agency and must be used beginning 09/21/2018.
A new model of the “Summary of Rights Under the Fair Credit Reporting Act” document was released on September 12, 2018. This is in response to several, high profile data breaches. The new law requires Credit Reporting Bureaus, under certain circumstances, to provide consumers fraud alerts and unlimited, free national security freezes and freeze releases. These ae intended to make it harder for identity thieves to open accounts in a consumer’s name. The new legislation also amends the FCRA to exclude from consumer reporting information certain medical debts incurred by veterans. Additionally, it establishes a new dispute process with respect to such medical debt. Lastly, this new form (Appendix K) has updated contact information for certain FCRA enforcement agencies.
Employers and background check companies should begin using the new form on September 21, 2018. Americhek has it available in their Resource Library.
Employers and background check companies are required to provide the FCRA Summary of Rights to employees and job applicants at certain times as described in FCRA section 609. A failure to provide the correct notification can lead to significant exposure, including class action litigation.