FCRA, CFPB | JD Supra Law News

As the CFPB Turns … And Other Consumer Financial Services News

by Christi Lawson | Foley & Lardner LLP on 4/26/2013

In this week’s episode of As the CFPB Turns questions remain regarding Director(?) Richard Cordray’s constitutional authority to act as the Director of the CFPB. House Financial Services Committee Chairman, Jeb Hensarling,...more

2012 Bank Enforcement Actions Still High, But Significantly Lower Than 2010-11

by Robert H. Ledig, Robert Rhatigan, Aline Smith, Thomas P. Vartanian | Dechert LLP on 4/4/2013

Originally published in BNA’s Banking Report, 100 BBR 617 on 04/02/2013. Overall Trends & Outlook - In 2012, the federal banking agencies, including the Federal Deposit Insurance Corporation (‘‘FDIC’’), Office...more

Infobytes - A Weekly In-depth review of news & developments in the financial services industry - March 8, 2013

by BuckleySandler LLP on 3/11/2013

In This Issue: - FEDERAL ISSUES - STATE ISSUES - COURTS - MISCELLANY - FIRM NEWS - FIRM PUBLICATIONS - MORTGAGES - BANKING - CONSUMER FINANCE - SECURITIES - CRIMINAL ENFORCEMENT -...more

New Background Check Forms Required under the FCRA

by Michael Gamboli, Kimberly McCarthy, Alicia Samolis | Partridge Snow & Hahn LLP on 2/25/2013

The Fair Credit Reporting Act (“FCRA”) provides guidelines which must be followed in order for employers to gather certain information about employees or applicants. Generally, there are two types of reports: a consumer...more

New Fair Credit Reporting Act Form For Employers

by Scott T. Silverman | Akerman Senterfitt on 2/19/2013

Title X of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 (Dodd-Frank Act) established the Consumer Financial Protection Bureau (CFPB), and the responsibility for interpreting and enforcing the Fair...more

Employers Faced January 1, 2013, Deadline to Update Fair Credit Reporting Act Notice

by Nikole Mergo | Nexsen Pruet, PLLC on 2/18/2013

Originally published in SC Bar's Employment and Labor Law Newsletter: Winter 2013 on February 15, 2013 Effective January 1, 2013, there was a new form that employers must provide prospective or current employees when...more

New Year, New FCRA Forms

by Kara Shea | Butler, Snow, O'Mara, Stevens and Cannada,... on 2/8/2013

Do you use a third party service to conduct background checks on job applicants or employees? If yes, then you should take note of new forms which employers are required to use for this purpose, effective January 1, 2013. ...more

New Year Brings New FCRA Forms for Employers and Possibly Additional Notification Requirements

by Lisa E. Cleary, Nivritha Ketty, Adam Pinto, Catherine A. Williams | Patterson Belknap Webb & Tyler LLP on 2/7/2013

The Consumer Financial Protection Bureau (CFPB), the primary enforcer of the Fair Credit Reporting Act (FCRA) rang in the new year by issuing new forms for users of consumer reports. Copies of the forms that went into effect...more

Employers Should Use Revised FCRA Disclosure for Employees and Job Applicants

by Keith Barnett, Thomas Bundy, III, Knox Dobbins, Peter Farley, Jaliya Stewart Faulkner, Allegra Lawrence-Hardy, Jason Stone, Mark Thibodeaux, Annette Tripp, Gail Westover | Sutherland Asbill & Brennan LLP on 1/16/2013

Employers who use consumer reports as part of their decision-making process in the hiring, promotion or firing of employees should note the attached “A Summary of Your Rights under the Fair Credit Reporting Act” issued by the...more

New Federal Agency Rings In The New Year With New FCRA Background Check Forms

by Katherine Rand | Pierce Atwood LLP on 1/14/2013

Employers that use third parties to perform background checks on applicants or employees must start using new Fair Credit Reporting Act (FCRA) forms immediately. The new Consumer Financial Protection Bureau, which is...more

Background Checks: Updated “Summary of Consumer Rights” Required Under Fair Credit Reporting Act

by Timothy Sarsfield | Thompson Coburn LLP on 1/9/2013

Start the new year out right by using the updated “Summary of Consumer Rights” form, required as of January 1, 2013, to comply with the Fair Credit Reporting Act (“FCRA”). Even if you updated your form earlier in 2012, you...more

Employment And Labor Insight: Year In Review - Are Your Employment Procedures, Practices And Policies In Compliance?

by Leonard, Street and Deinard on 1/9/2013

As we enter 2013, we would like to update you on the importance of reviewing your application, background check procedures, employment policies and employee handbook for compliance with the changing laws in these areas....more

CFPB Examination Procedures for Student Lenders

by Jonathan L. Pompan | Venable LLP on 1/7/2013

The Consumer Financial Protection Bureau (“CFPB”) has released procedures it will use in examining student lenders. The Student Lending Examination Procedures, available here, set forth the CFPB’s examination objectives and...more

New Year’s Watch: CFPB’s Model FCRA Forms Take Effect

by Fredric Leffler, Lawrence Lorber, Marc Mandelman, Katharine Parker, Daniel Saperstein, Leslie Silverman, Allan Weitzman | Proskauer Rose LLP on 1/4/2013

The Consumer Financial Protection Bureau (CFPB), which has taken over the responsibility of interpreting and enforcing the Fair Credit Report Act (FCRA) from the Federal Trade Commission (FTC), recently issued revised model...more

Act Now Advisory: Employers Must Update FCRA Notices in Background Screening Process by January 1, 2013

by Anna A. Cohen, Jennifer A. Goldman, Jeffrey M. Landes, William J. Milani, Susan Gross Sholinsky, Dean L. Silverberg | Epstein Becker & Green, P.C. on 12/24/2012

Effective January 1, 2013, employers must begin using a new Fair Credit Reporting Act ("FCRA") notice in connection with their background screening process. The Consumer Financial Protection Bureau ("CFPB")recently issued...more

Modified Fair Credit Reporting Act Notices Will Be Required Effective January 1, 2013

by Gwendolyn Morales | Franczek Radelet P.C. on 12/21/2012

The following is an important message for all employers that use credit reporting agencies to perform pre-employment background checks or other related investigations...more

Legal Alert: Employers Must Be Prepared To Use Revised FCRA Forms Beginning January 1, 2013

by Frederick L. Warren | FordHarrison on 12/21/2012

Beginning January 1, 2013, employers must use the revised forms issued by the Consumer Financial Protection Bureau (CFPB) in November 2012 to conduct background checks under the Fair Credit Reporting Act (FCRA). ...more

Is Your Company Using the Right Form for Background Checks?

by Rebecca R. Hanson | Foley & Lardner LLP on 12/19/2012

The Consumer Financial Protection Bureau (the “Bureau”) has taken over rulemaking and enforcement responsibilities for the Fair Credit Reporting Act (“FCRA”) and has updated an important FCRA form that employers must use when...more

Congress Acts On Several Banking Bills, Two Set For President’s Signature

by BuckleySandler LLP on 12/18/2012

On December 11, the U.S. Senate passed by voice vote two bills impacting bank supervision and compliance. The first, H.R.4014, amends the Federal Deposit Insurance Act to protect information submitted to the CFPB as part of...more

Infobytes - A Weekly In-depth review of news & developments in the financial services industry - December 14, 2012

by BuckleySandler LLP on 12/17/2012

In This Issue: - FEDERAL ISSUES - STATE ISSUES - COURTS - FIRM NEWS - FIRM PUBLICATIONS - MORTGAGES - BANKING - CONSUMER FINANCE - SECURITIES - E-COMMERCE - PRIVACY/DATA SECURITY - CRIMINAL...more

New Fair Credit Reporting Act (FCRA) Form in Effect January 1, 2013

by Bradford G. Harvey, Jennifer W. Terry | Miller & Martin PLLC on 12/14/2012

Under the federal Fair Credit Reporting Act (FCRA), employers are required to provide a Summary of Rights form to individuals who are the subject of an investigative consumer report and/or before adverse action is taken based...more

Mortgage Banking Update - December 14, 2012

by Paul Apicella, Stefanie Jackman, Alan S. Kaplinsky, Barbara S. Mishkin, Brian D. Pedrow, Christopher J. Willis | Ballard Spahr LLP on 12/14/2012

In This Issue: - CFPB Monitor Named to the ABA Journal Annual Blawg 100 List - Temporary CONGRESS PASSES LEGISLATION TO FIX CFPB PRIVILEGE WAIVER PROBLEM - CFPB DESCRIBES PLANS FOR COORDINATING WITH STATE...more

CFPB Warns Specialty Consumer Reporting Agencies About FCRA Compliance

by BuckleySandler LLP on 12/6/2012

On November 29, the CFPB issued a bulletin to nationwide specialty consumer reporting agencies (NSCRAs) reminding such firms of their obligation under FCRA to facilitate the process by which consumers may obtain a free annual...more

CFPB Warning and Bulletin for Nationwide Specialty CRAs

by Rick Fischer, Matthew W. Janiga, Michael B. Miller, Andrew M. Smith | Morrison & Foerster LLP on 12/3/2012

The Consumer Financial Protection Bureau (“CFPB”) has sent warning letters to several nationwide specialty consumer reporting agencies (“CRAs”), notifying the CRAs that the CFPB believes that the CRAs are not complying with...more

CFPB’s Most Recent Changes to FCRA Forms May Foreshadow Active Oversight of Employers

by Paul Apicella, Brian D. Pedrow | Ballard Spahr LLP on 12/1/2012

The Consumer Financial Protection Bureau (CFPB) has issued another reminder that, effective January 1, 2013, it will assume responsibility for enforcing the Fair Credit Reporting Act (FCRA). Earlier this year, the CFPB...more

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FCRA › Consumer Financial Protection Bureau