Friday, January 25, 2013

Federal Trade Commission revises required forms to be used by January 1, 2013

The Federal Trade Commission (FTC) has revised the “FCRA Summary of Rights” document to incorporate amongst other things the new agency—Consumer Financial Protection Bureau (CFPB) that now has oversight over the Fair Credit Reporting Act. Before January 1, 2013, employers should use the new FCRA notice for their background check programs. The FCRA Summary of Rights form must be included: (1) as an enclosure with the first of the two “adverse action” notices—the “pre-adverse action” notice; and (2) with the disclosures for “investigative consumer reports” (i.e., consumer reports based on personal interviews conducted by a consumer reporting agency (CRA), such as in-depth reference checks).

In addition to the revised Summary of Rights document, the FTC has also changed the Notice to End-Users to incorporate similar changes reflected in the summary of rights notice.

Aurico will incorporate the new Summary of Rights form on behalf of our clients using our On-line Disclosure and Authorization (Send-Release) option.

You can find these forms on our website under the “Forms” tab when logged into the WebACE ™ dashboard. If you have any questions regarding these new forms, or would like to get set up for our On-Line Send-Release option, please contact Aurico and we will be happy to assist you

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