Tag: Credit Reporting

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Remember the old ad, “It’s a breath mint. It’s a candy mint. It’s two, two, two mints in one”? Or maybe the Saturday Night Live takeoff, “It’s a dessert topping and a floor wax!” It’s not unusual for something to do double duty. And if you’re in the business of compiling background...
The Federal Trade Commission has created new guidance for businesses aimed at giving employment background screening companies information on how to comply with the Fair Credit Reporting Act (FCRA).
In the words of movie mogul Samuel Goldwyn, “An oral contract isn’t worth the paper it’s printed on.” If your company provides information about consumers to credit bureaus, the law requires that you have written policies in place regarding the accuracy and integrity of that data....
Usually a Top 10 list is something industries are delighted to find themselves on. So we’ll call this one a Flop 10 list, the FTC’s annual report about consumer complaints added in 2015 to the Consumer Sentinel database. How did your industry – and your state – rank in reported...
At the Federal Trade Commission, we’ve been very public about how we feel about privacy: we want consumers to enjoy the benefits of innovation in the marketplace, confident that their personal information – online and offline – is being handled responsibly.
Why is it your business if identity theft victims can get free personal recovery plans and other help that makes it easier for them to report and recover from identity theft?  Here’s an answer: Because it’s good business – for you, your customers, your employees, and your community...
An overview of the FTC’s enforcement, policy initiatives, and consumer outreach and business guidance in the areas of privacy and data security, from January 2015-December 2015.
For a while now, pundits have been talking about the three V’s of big data: Volume – the vast quantity of information that can be gathered and analyzed; Velocity – the speed with which companies can accumulate, analyze, and use new data; and Variety – the breadth of data companies...
Two people walk into a deli and both order a pastrami on rye. When the check arrives, one is charged $8. The other is surprised to get a bill for $15.99. That’s not the start of an old Henny Youngman joke. It’s an analogy that raises some of the issues in the FTC’s proposed $2.95...
El 18 de noviembre de 2015, la Comisión Federal de Comercio (FTC, por su sigla en inglés) realizará el tercero de sus Diálogos sobre Cobranza de Deudas que tendrá lugar en Atlanta, Georgia. La Oficina del Fiscal General de Georgia Sam Olens copatrocinará el evento, y las palabras de apertura...
The Federal Trade Commission will hold the third of its Debt Collection Dialogues in Atlanta, Georgia, on November 18, 2015. The Office of Georgia Attorney General Sam Olens will co-host the event, and Attorney General Olens will deliver opening remarks. Earlier Dialogues were in Buffalo and...
The Fair Credit Reporting Act isn’t just about credit. If your company uses background checks in making personnel decisions, the FTC reminds you of your obligations under the FCRA. In honor of Throwback Thursday, here’s an unconventional old-school summary of key requirements under...
Tricolor Auto Acceptance’s multi-hued name may be particularly appropriate. According to an FTC lawsuit, the company’s violations of the Fair Credit Reporting Act were enough to make consumers see red, feel blue, and perhaps lose some green in the process.
Loan-Servicing Arm of Tricolor Auto Failed to Maintain Policies and Procedures Required by FCRA’s Furnisher Rule to Maintain Accuracy, Integrity of Consumer Information
Does your company use background checks in evaluating job applicants? If so, are you complying with the Fair Credit Reporting Act’s notice, consent, and disclosure requirements? A closing letter the FTC staff sent to California Health & Wellness elaborates on the applicability –...

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