Credit Reports

News & Analysis as of

LinkedIn Reference Search Not Subject To Fair Credit Reporting Act

Finding that LinkedIn’s “Reference Search” function was not subject to the Fair Credit Reporting Act (FCRA), a Northern California federal district court dismissed a putative class action filed on behalf of job applicants who...more

New York City Employers Prohibited from Using Credit History in Employment Decisions

On April 16, 2015, the New York City Council passed legislation (Int. No. 261-A) prohibiting employers from discriminating against employees and job applicants based on their credit histories. The bill was signed into law by...more

Advertising Law - May 2015 #3

U.S. Supreme Court Could Decide Future of Privacy Law Class Actions - The future of consumer class actions alleging privacy violations may be in the hands of the U.S. Supreme Court now that the justices have granted...more

CFPB Study: Over 26 Million Consumers Are “Credit Invisible”

On May 5, the CFPB released the results of its latest analysis of the credit reporting industry, finding that more than 26 million consumers are categorized as “credit invisible” (i.e., consumers without credit histories with...more

New York City Human Rights Law Strictly Limits Employers’ Use of Credit Checks in Hiring

In follow-up to our April 21 post, New York City Mayor Bill de Blasio signed into law an amendment to the New York City Human Rights Law on May 6, prohibiting employment discrimination on the basis of “consumer credit...more

New CFPB Report Provides Insight into Consumers with Limited Credit Histories

The Consumer Financial Protection Bureau (CFPB) recently released a report, Data Point: Credit Invisibles, concluding that 45 million Americans do not have credit histories or have credit histories that are too sparse to...more

New York City Law Restricts Employers' Use of Employee or Applicant Consumer Credit Checks

Action Item: New York City employers should evaluate their application and employment policies to ensure compliance with a new law regarding the request and use of applicant and employee consumer credit history that will go...more

New York City Bans Use of Consumer Credit History for Employment Purposes

New York City enacted legislation (Int. No. 261-A ) on May 6, 2015, making it unlawful for a covered entity to use an applicant’s or employee’s consumer credit history in connection with that person’s employment. The law...more

CFPB: The “Credit Invisibles” and Alternative Data

On May 5, 2015, the CFPB published a report, Data Point: Credit Invisibles, finding that 26 million Americans (as of December 2010, and out of 189 million Americans with scorable credit records), or one in every ten, do not...more

New York City Bans Employers From Using Credit Checks To Screen Job Applicants

Under a bill signed into law by Mayor Bill de Blasio on Wednesday, May 6, 2015, New York City businesses will be banned from using credit reports, bankruptcies and liens to disqualify applicants from employment. The Stop...more

CFPB Issues Study on Credit Reports; Next Steps are Unknown

The CFPB recently released a report that documents the results of a research project undertaken by the CFPB’s Office of Research to better understand the demographic characteristics of consumers without traditional credit...more

New York City Expected to Ban the Use of Credit Checks in Employment

On April 16, 2015, the New York City Council passed an amendment (“Amendment”) to the New York City Human Rights Law (“NYCHRL”) that, if signed into law, would make it an unlawful discriminatory practice for employers to use...more

NYC Ban on Use of Credit Checks in Employment Decisions Moves to Mayor’s Office for Signature

On April 16, 2015, the New York City Council voted overwhelmingly to amend the city’s Human Rights Law to prohibit employers from using an individual’s consumer credit history to make employment decisions. While the bill...more

New York City Council Passes Bill Amending Human Rights Law

Employers are prohibited from using credit history in employment decisions, with some exceptions. Last week, the New York City Council passed Proposed Introductory Bill Number 261-A, which amends the New York City...more

New York City Council Votes to Limit Credit Checks by Employers

On April 16, the New York City Council passed Intro 261A, which bans the use of credit checks to screen applicants for employment except in enumerated circumstances. The legislation, which was supported by Mayor Bill de...more

New York City Council Passes the First Citywide Bill Restricting Employers from Using Credit Information in Employment Decisions

On April 16, 2015, the New York City Council overwhelmingly passed a bill to make it unlawful for most employers to use an applicant's or employee's credit history for employment purposes, except in certain, specified...more

New York City Will Prohibit Most Employers From Basing Employment Decisions on an Applicant or Employee’s Consumer Credit History

The New York City Council passed the Stop Credit Discrimination in Employment Act last Thursday. It amends the New York City Human Rights Law to prohibit most employers from making employment decisions based on an employee...more

FCRA Class Actions

Hyping The “Hyper-technical” - The slowly rising waves of Fair Credit Reporting Act (FCRA) class-action litigation are beginning to crash against employers. And if you thought that the FCRA only applied to credit...more

NY Attorney General Enters into Far-Reaching Settlement with Largest Credit Reporting Agencies

New York Attorney General Eric Schneiderman recently announced that his office reached a landmark settlement with the nation’s three leading credit reporting agencies (CRAs) that will require them to significantly reform,...more

New York AG Announces Settlement with Three National Credit Reporting Agencies

On March 9, New York AG Eric Schneiderman announced a settlement agreement with three national credit reporting agencies. Schneiderman noted that inaccuracies in credit reports, such as the collection of debts not owed,...more

New York Attorney General and Credit Bureaus Reach Deal Affecting Furnishers of Information to Credit Bureaus

The New York Attorney General announced a settlement with credit bureaus Equifax, Experian and TransUnion regarding credit reporting policies and practices, including methods of addressing inaccuracies identified by...more

Illinois Federal Court Allows FCRA Lawsuit Against Credit Reporting Company to Move Forward

On February 5, the U.S. District Court for the Northern District of Illinois denied a credit reporting company’s motion to compel arbitration in a putative class action which alleged that the company sold credit scores to...more

An Opportunity to Collaborate? The CFPB’s credit report study

On February 19, 2015, the CFPB released its credit report study, entitled “Consumer voices on credit reports and scores.” After conducting focus groups with 308 consumers in four major metropolitan areas, the study concludes...more

They’re Watching You. How Debt Collectors Use Facebook and Your Credit Report to Keep Tabs on You

It is almost as if they are watching you. Debt collectors seem to appear out of nowhere anytime something positive happens. While you may believe you are just unlucky and that you can’t seem to shake that grey cloud hanging...more

FTC continues to press concerns about credit report accuracy in follow-up report

A follow-up report on credit report accuracy issued this week by the Federal Trade Commission is likely to be cited by the CFPB as additional support for the CFPB’s concerns about inaccurate credit reporting. In December...more

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