Utah Senate Bill 70: Consumer Reporting Amendments Explained
Utah joined the list of states in 2025 that have enacted legislation regulating what information can be reported to organizations requesting...
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Verified Credentials May 10, 2023 12:00:00 AM
It might be time for spring cleaning to ensure your business complies with updated background screening laws. The Consumer Financial Protection Bureau (CFPB) has recently revised its Fair Credit Reporting Act (FRCA) Summary of Consumer Rights.
The revised FRCA Summary of Consumer Rights may be used immediately, but its use is not required until March 20, 2024; it replaces an earlier version set in place in October 2018. The document includes updated information about consumer rights under the FCRA and information about how consumers can obtain a security freeze on their credit reports.
The revisions include:
There is a grace period to implement all effective changes, but employers must implement the updated Summary of Consumer Rights by March 20, 2024. At that time, the updated notice must be provided to applicants and employees when conducting background checks and taking adverse action related to background checks.
The FCRA Summary of Consumer Rights is prepared and maintained by the CFPB. It must accompany a consumer report furnished for employment purposes and any pre-adverse action notice. Verified Credentials also publishes a copy of the FCRA Summary of Consumer Rights to customer Candidate Verification Centers.
Employers may want to consult their attorney regarding the circumstances requiring delivery of the FCRA Summary of Consumer Rights, but when it is used, be sure to include this most up-to-date version.
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