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ARTICLE · 25 APRIL 2023

Updated FCRA Summary Of Rights Notice Released

Buchanan Ingersoll & Rooney
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The Consumer Financial Protection Bureau (CFPB) recently released an updated "Summary of Your Rights Under the Fair Credit Reporting Act" notice for consumer reporting agencies...

United StatesConsumer Protection
George C. Morrison
George C. Morrison
John L. Lamb
John L. Lamb
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The Consumer Financial Protection Bureau (CFPB) recently released an updated "Summary of Your Rights Under the Fair Credit Reporting Act" notice for consumer reporting agencies and background check users to incorporate into their screening processes. Employers and consumer reporting agencies (CRAs) must provide the notice to applicants and employees to comply with the federal statute, the Fair Credit Reporting Act (FCRA). While the Final Rule is set to take effect on April 19, the CFPB provided a grace period for mandatory compliance until March 20, 2024. Despite this grace period, employers should start using the updated notice now.

Background of the CFPB and "Summary of Your Rights Under the Fair Credit Reporting Act"

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