A Federal Trade Commission (FTC) study of accuracy in the U.S. credit reporting industry has found that one in five consumers – an estimated 40 million Americans, according to a ‘60 Minutes’ report on the FTC study – had an error on at least one of their three major credit reports while five percent had …Continue reading "FTC Study on Credit Report Accuracy Finds One in Five Consumers has Error on Their Credit Reports"
Attorney and safe hiring expert Lester Rosen, Founder and CEO background check firm Employment Screening Resources (ESR), will present a live webinar titled ‘Background Checks in California: Know the Rules of the Road Before Getting on the Freeway’ with HR Hero® on Wednesday, November 14, 2012 from 10:30 a.m. to 12:00 p.m. Pacific Time. To …Continue reading "California Background Checks Discussed by Safe Hiring Expert in Live Webinar on November 14"
The Consumer Financial Protection Bureau (CFPB) has begun to accept consumer complaints about credit reporting, marking the first time consumers will receive individual-level credit reporting complaint assistance at the federal level. The CFPB already handles complaints on credit cards, mortgages, bank accounts, and consumer and private student loans. To file a credit reporting complaint, consumers …Continue reading "Consumer Financial Protection Bureau Begins Accepting Credit Reporting Complaints from Consumers"
The Consumer Financial Protection Bureau (CFPB) has released the examination procedures to be used in examining larger credit bureaus and Consumer Reporting Agencies (CRAs) so CFPB examiners may verify that these companies are complying with requirements of federal consumer financial law. The CFPB’s authority to supervise larger consumer reporting companies takes effect September 30, 2012. …Continue reading "CFPB Releases Examination Procedures for Larger Consumer Reporting Agencies to Verify Companies are Complying with Law"
A federal district Court in Maryland has ruled that an employer sued by the Equal Employment Opportunity Commission (EEOC) for alleged discriminatory use of criminal background checks and credit histories in hiring may compel the EEOC the testify regarding the agency’s own use of criminal records and credit information for employment screening. The ruling EEOC …Continue reading "EEOC Must Testify On Own Use of Criminal Background Checks and Credit Histories for Employment Screening"
A survey from the Society for Human Resource Management (SHRM) “Background Checking — The Use of Credit Background Checks in Hiring Decisions” indicates that more than half of the responding organizations – 53 percent – do not conduct credit background checks on any of their job candidates, a noticeable increase from 40 percent in 2010 and …Continue reading "Credit Background Checks of Applicants Not Used by More than Half of Organizations According to Survey"
The Consumer Financial Protection Bureau (CFPB) has adopted a rule to begin supervising larger consumer reporting agencies – including the “big three” credit reporting companies Equifax, Experian, and TransUnion – for the first time at the federal level, according to a CFPB press release ‘Consumer Financial Protection Bureau to supervise credit reporting.’ The rule outlining …Continue reading "Consumer Financial Protection Bureau Adopts Rule to Supervise Larger Credit Reporting Companies"
Continuing the trend of states stopping employers from routinely obtaining credit reports on applicants and employees to use in making employment decisions, Vermont Act No. 154 (S. 95) prohibits employers in the state, subject to various exceptions, from using or inquiring into credit reports or credit histories of job applicants and employees in the employment …Continue reading "Vermont to Prohibit Employers from Using Credit Reports for Employment Decisions Starting July 1"
To help Human Resources professionals understand the current trends, best practices, and legal developments affecting due diligence and hiring, Attorney Lester Rosen, CEO of Employment Screening Resources (ESR), will present a webinar titled ‘The Top 10 Trends for Background Checks in 2012’ for the Professionals In Human Resources Association (PIHRA) on Friday, May 18, 2012 …Continue reading "Top 10 Trends for Background Checks in 2012 Reviewed in PIHRA Webinar on May 18"
While existing law allows California consumers to place security freezes on their credit files maintained by the three major credit reporting agencies Equifax, Experian, and TransUnion, new legislation – Senate Bill 1384 (SB 1384) ‘Consumer Reporting Agencies Act’ – would authorize consumers to place similar security freezes on certain other consumer reports containing private financial …Continue reading "California Bill SB 1384 Would Authorize Consumers to Place Security Freezes on Consumer Reports"