The revised forms from the Consumer Financial Protection Bureau (CFPB) are effective on January 1, 2013.
Accurate Background is consistently monitoring any legislation that may impact your organization. The Dodd-Frank Wall Street Reform and Consumer Protection Act granted the Consumer Financial Protection Bureau (CFPB) rule-making authority and enforcement powers over the Fair Credit Reporting Act (FCRA). In response to this shift in responsibility, the CFPB has mandated changes to the following forms used in the background screening process which are required by the FCRA.
Effective January 1, 2013, these changes include the latest form modifications announced on November 14th.
- Summary of Your Rights Under the Fair Credit Reporting Act
- Notice to Users of Consumer Reports: Obligations of Users Under the FCRA
- Summary of Consumer Identity Theft Rights
View the link below to access a complete recap of this change.