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.
Businesses Must Provide Victims and Law Enforcement with Transaction Records Relating to Identity Theft [PDF]
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?
When using credit reports to consider whether to underwrite policies, insurers must comply with the Fair Credit Reporting Act.
If you provide information to a consumer reporting agency – like credit bureaus, tenant screening companies, check verification services, and medical information services – the Fair Credit Reporting Act spells out your legal obligations.
Do you use credit reports in your business? To protect the privacy of personal information and reduce the risk of fraud and identity theft, the law requires you to take appropriate steps to dispose of credit reports – and the sensitive information you derive from them.
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.