Tag Archives: credit checks

CFPB Finds Complaints about Credit Reports Rising Sharply

 CreditReport

Written By ESR News Blog Editor Thomas Ahearn

The Consumer Financial Protection Bureau (CFPB) has released its Monthly Complaint Report that found complaints about credit reports sharply increased compared to the prior month and the prior year. The CFPB Monthly Complaint Report can be found at: http://files.consumerfinance.gov/f/201508_cfpb_monthly-complaint-report-vol-2.pdf. Continue reading

Bill Would Prohibit Employers from Using Credit Reports in Background Checks

 CreditReport

Written By ESR News Blog Editor Thomas Ahearn

Legislation introduced in the U.S. Senate – the “Equal Employment for All Act of 2015” – would amend the federal Fair Credit Reporting Act (FCRA) to prohibit employers from using the credit reports of job applicants and current employees during background checks for employment. The text of the legislation is at http://www.warren.senate.gov/files/documents/Equal_Employment_for_All_Act_of_2015.pdf. Continue reading

Consumer Reporting Fairness Act Would Help Fix Inaccurate Credit Reports

 CreditReport

Written By ESR News Blog Editor Thomas Ahearn

Legislation introduced in the U.S. Senate – S. 1773 – the “Consumer Reporting Fairness Act of 2015” – would require creditors to inform consumer reporting agencies (CRAs) that certain debts have been discharged in bankruptcy cases, making it easier for consumers who rid themselves of credit card debt to fix inaccurate credit reports that do not reflect a clean financial slate. The text of S. 1773 is available at https://www.congress.gov/bill/114th-congress/senate-bill/1773/text. Continue reading

New York City to Bar Employers from Viewing Credit Reports of Job Seekers

CreditReport

Written By ESR News Blog Editor Thomas Ahearn

The New York City Council is expected to pass a bill – “Stop Credit Discrimination in Employment Act” (Int. No. 261-A) – that will bar employers from viewing the credit reports of job seekers and also prohibit them from asking about credit scores in job interviews, according to an exclusive report from the New York Daily News. (UPDATE: The New York City Council passed a bill that makes it illegal to request or use a job applicant’s credit history in making a hiring decision and bars most employers from checking a job candidate’s credit record. Read the full story.) Continue reading

Credit Reporting Agencies Announce Plan to Improve Credit Report Accuracy

Credit Report Blogs

Written By ESR News Blog Editor Thomas Ahearn

The three leading national Credit Reporting Agencies (CRAs) – Equifax, Experian, and TransUnion – have announced a National Consumer Assistance Plan to improve the collection of complete and accurate consumer information while giving consumers more transparency and improved interaction with credit bureaus about credit reports, according to a joint press release from all three companies. Continue reading

FTC Issues Credit Report Accuracy Study

Credit Report Blogs

Written By ESR News Blog Editor Thomas Ahearn

A follow-up study of credit report accuracy issued by the Federal Trade Commission (FTC) has found that most consumers with previously reported unresolved errors on their credit reports believe that some disputed information on those reports is still inaccurate, according to an FTC press release. The study is available here: Report to Congress Under Section 319 of the Fair and Accurate Credit Transactions Act of 2003. Continue reading

New York City May Ban Credit Checks by Employers

Credit Report Blogs

Written By ESR News Blog Editor Thomas Ahearn

New York City Council members are considering legislation – Introductory Bill Number 261 (“Int. No. 261”) – that would amend the administrative code of the city “in relation to prohibiting discrimination based on one’s consumer credit history” and prevent employers from using credit checks in employment decisions. More information about the bill is available here: Int. No. 261. Continue reading

Starting July 1 New Colorado Law Specifies Permissible Use of Credit Reports by Employers

A new law passed by the Colorado General Assembly that takes effect July 1, 2013 – SB13-018, the “Employment Opportunity Act” – will specify the permissible use of credit reports by employers. The Act outlines the purposes for which consumer credit information such as consumer credit reports and credit scores can be used by private sector employers or potential employers with four or more employees in making employment-related decisions. More information about the Employment Opportunity Act is available at http://www.coloradocapitolwatch.com/bill/0/SB13-018/2013/1/. Continue reading

Delaware Bill Would Prohibit Employers from Considering Criminal Record and Credit History of Applicants before Job Offer

Lawmakers in Delaware have introduced legislation – House Bill No. 167 – that would prohibit public employers in the state from considering the criminal record or credit history of an applicant before making a conditional job offer. The bill would also restrict the authority of state and local government agencies to conduct criminal background checks on potential new hires. The full text of House Bill No. 167 is available at http://legis.delaware.gov/LIS/lis147.nsf/vwLegislation/HB+167/$file/legis.html?open. Continue reading

Nevada Becomes Tenth State to Prohibit Use of Credit Reports by Employers for Employment Purposes

With Governor Brian Sandoval signing Senate Bill 127 (SB 127) into law, Nevada has now become the tenth state in the U.S. to prohibit employers from conditioning employment on a consumer credit report or other credit information with few exceptions. The full text of Nevada SB 127 – which goes into effect on October 1, 2013 – is available at: http://openstates.org/nv/bills/77/SB127/. Continue reading