The Consumer Financial Protection Bureau has released an updated version of the “Summary of Your Rights Under the Fair Credit Reporting Act” notice that all employers must provide to employees before taking any adverse action based on the results of a background check.
The document contains several non-substantive changes from the previous version, including formatting changes. Despite the relatively minor revisions, all employers must begin providing employees with the updated Summary of Rights by March 20, 2024.
Dinsmore recommends that employers replace the Summary of Rights sent to employees as soon as possible. If employers’ Fair Credit Reporting Act documents are supplied by a third party such as a Consumer Reporting Agency, employers should verify with that third party that the most updated version of the Summary of Rights is being used.