New FCRA Notice Requirements Now In Effect

Earlier this month, the Consumer Finance Protection Bureau (CFPB) issued updated model disclosure forms required under the federal Fair Credit Reporting Act (FCRA). The updated "Summary of Your Rights Under the Fair Credit Reporting Act" form, which became effective on September 21, 2018, is one of many notices employers must provide under the FCRA when using a consumer reporting agency (CRA) to run a background check during the hiring process. The revised form is located here along with a revised Summary of Consumer Identity Theft Rights form.

Changes to the Form

In May 2018, Congress passed the Economic Growth, Regulatory Relief and Consumer Protection Act (the "Act"). The Act adds new language to the Summary of Your Rights form which explains that consumers may obtain a "security freeze" free of cost. A security freeze allows a consumer to freeze their account so that a CRA may not release information on a credit report without the consumer's authorization. The