Credit Reporting

Does your business use consumer reports or credit reports to evaluate customers’ creditworthiness? Do you consult reports when evaluating applications for jobs, leases, or insurance? Here's information about your responsibilities under the Fair Credit Reporting Act and other laws when using, reporting, and disposing of information in those reports.

Guidance

If employers use background checks in making personnel decisions, they must comply with the Fair Credit Reporting Act and laws that protect people from discrimination. The FTC and EEOC have tips for businesses on the lawful use of background information.
The Fair Credit Reporting Act (FCRA) spells out rights for victims of identity theft – and responsibilities for your business. Are you complying with the requirement that you provide victims of identity theft and law enforcers with copies of transaction records related to the theft?
If you report information about consumers to consumer reporting agencies (CRAs) — like a credit bureau, tenant screening company, or check verification service — you have legal obligations under the Fair Credit Reporting Act's Furnisher Rule.
When using credit reports to consider whether to underwrite policies, insurers must comply with the Fair Credit Reporting Act.
Once your business is finished with sensitive information derived from consumer reports, what happens to it then? Under the Disposal Rule, your company must take steps to dispose of it securely.
If you use consumer reports to make credit decisions, here’s what you need to know about your legal obligations under the Risk-Based Pricing Rule of the Fair Credit Reporting Act.
When you use consumer reports to make employment decisions like hiring, promotion, reassignment, and retention, the Fair Credit Reporting Act requires you to take important compliance steps. Find out more about keeping your company within the law.
Landlords may use credit reports to evaluate rental applications — as long as they follow the provisions of the Fair Credit Reporting Act.
If your company is in the business of compiling background information for employment purposes, it’s likely you’re covered by the Fair Credit Reporting Act. Are you following reasonable procedures to assure accuracy, getting required certifications from your clients, and complying with other FCRA provisions?
Thousands of landlords turn to background screening companies for information about housing applicants and current tenants. If you’re in the business of compiling background information for housing purposes, there are two things you need to know: 1) Federal law – including the Fair Credit Reporting Act (FCRA) – applies to companies in your line of work; and 2) Tenant background screening companies are typically “consumer reporting agencies” covered by the FCRA.