Written By Employment Screening Resources© (ESR) Employment Screening Resources® (ESR) – a leading global background check firm headquartered in the San Francisco Bay area – has received notification from the U.S. Department of Commerce’s International Trade Administration (ITA) that ESR’s annual submission for its self-certification of adherence to the EU-U.S. Privacy Shield Framework has been finalized and …Continue reading "Employment Screening Resources (ESR) Completes Annual EU-U.S. Privacy Shield Re-Certification"
Written By ESR News Blog Editor Thomas Ahearn On August 2, 2017, the Consumer Financial Protection Bureau (CFPB) ordered JPMorgan Chase Bank, N.A. to pay a $4.6 million penalty for failing to comply with obligations outlined in the federal Fair Credit Reporting Act (FCRA) related to the accuracy of information about consumer checking account behavior provided …Continue reading "CFPB Orders Bank to Pay $4.6 Million Penalty for Violating FCRA Requirements for Checking Account Screening Reports"
Written By ESR News Blog Editor Thomas Ahearn Having consumer protection safeguards in place to ward off unauthorized users and unwanted intrusions is crucial for background screening firms accredited by the National Association of Professional Background Screeners (NAPBS®). These policies and procedures protect the information of individuals during background checks and guard against data breaches and identity …Continue reading "Consumer Protection Safeguards Crucial for NAPBS Accredited Background Screening Firms"
Written By ESR News Blog Editor Thomas Ahearn A federal judge in Texas has ordered a company located in the state that compiles public records to turn over information requested in a Civil Investigative Demand (CID) issued by the Consumer Financial Protection Bureau (CFPB) as part of a nonpublic investigation to determine whether consumer reporting agencies …Continue reading "Judge Grants CFPB Petition Enforcing Demand for Information from Public Records Company"
Written By ESR News Blog Editor Thomas Ahearn Three major national credit reporting agencies in the United States – Equifax, Experian, and TransUnion – will implement enhanced public record data standards for consumer credit reports beginning on July 1, 2017, according to a statement from the Consumer Data Industry Association (CDIA).Continue reading "Three Major Credit Reporting Agencies to Implement Enhanced Public Record Data Standards on July 1"
Written By ESR News Blog Editor Thomas Ahearn The Consumer Financial Protection Bureau (CFPB) has ordered one of the nation’s three largest credit reporting agencies, Experian, to pay a civil penalty of $3 million for deceiving consumers about the use of credit scores it sold to them, according to a report on the CFPB …Continue reading "CFPB Fines Credit Reporting Agency $3 Million for Deceiving Consumers about Credit Scores"
Written By ESR News Blog Editor Thomas Ahearn The Consumer Financial Protection Bureau (CFPB) has released a special report that details the problems in the credit reporting industry that the CFPB has uncovered and corrected through oversight work and outlines actions the CFPB has taken to address these problems such as fixing data accuracy …Continue reading "CFPB Releases Report Detailing Problems in Credit Reporting Industry"
Written By ESR News Blog Editor Thomas Ahearn The Consumer Financial Protection Bureau (CFPB) has released the Monthly Complaint Report for February 2017 that highlights consumer complaints about credit reports and shows how consumers continue to report struggling to resolve errors on their credit reports. The report is at http://files.consumerfinance.gov/f/documents/201702_cfpb_Monthly-Complaint-Report.pdf.Continue reading "CFPB Monthly Complaint Report for February Highlights Complaints about Credit Reports"
Written By ESR News Blog Editor Thomas Ahearn The Consumer Financial Protection Bureau (CFPB) has ordered TransUnion and Equifax, Inc. to pay a total of more than $17.6 million in restitution to consumers, along with fines totaling $5.5 million to the CFPB, for deceiving consumers about the usefulness and actual cost of credit scores …Continue reading "CFPB Orders TransUnion and Equifax to Pay for Deceiving Consumers about Credit Scores"
Written By ESR News Blog Editor Thomas Ahearn The U.S. Court of Appeals for the District of Columbia Circuit has ruled the structure of an independent agency established by Congress in the Dodd-Frank Act of 2010 – the Consumer Financial Protection Bureau (CFPB) – is unconstitutional and that the current CFPB Director “enjoys more unilateral …Continue reading "Court Rules Structure of CFPB is Unconstitutional"