Fair Credit Reporting Act

• Fair Credit Reporting Act 1970-US

• The Fair Credit Reporting Act

Employee fraud has increased in frequency and intensity during the past few years, leading employers to step up their use of background checks. These investigations provide opportunities for CPAs and forensic accountants, but they also present legal pitfalls if accountants are not familiar with (FCRA). Fraud does not discriminate and is found in all types of organizations. The FCRA, which took effect in 1971, was enacted to protect consumers from inaccurate or misleading credit reports and from unauthorized disclosure of information in the reports. Applying the FCRA to investigations conducted by accounting firms or fraud investigators may discourage companies from undertaking such investigations and could interfere with their effectiveness when they are pe...

• CPA Journal, The
• Vol. 80 Nbr. 12, December 2010

• Fair Credit Reporting Act Disclosures

The Bureau of Consumer Financial Protection (``Bureau'') announces that the ceiling on allowable charges under Section 612(f) of the Fair Credit Reporting Act (``FCRA'') will increase from $11.00 to $11.50 effective April 3, 2012. The Bureau is required to increase the $8.00 amount referred to in Section 612(f)(1)(A)(i) of the FCRA on January 1 of each year, based proportionally on changes in the Consumer Price Index (``CPI''), with fractional changes rounded to the nearest fifty cents. The CPI increased 40.75 percent between September 1997, the date the FCRA amendments took effect, and September 2011. This increase in the CPI, and the requirement that any increase be rounded to the nearest fifty cents, results in a maximum allowable charge of $11.50.

• Federal Register Nbr. 77 FR 20011, April 03, 2012
• Notices
• Consumer Financial Protection Bureau

• The FTC Staff Report On '40 Years Of Experience With The Fair Credit Reporting Act' Illuminates Areas Of Potential Class Action Exposure For Employers

I. INTRODUCTION Earlier this year, the Federal Trade Commission (FTC or "the Commission") staff published a report entitled, 40 Years of Experience...

• Mondaq Business Briefing
• United States Law Articles in English

• The FTC Staff Report On '40 Years Of Experience With The Fair Credit Reporting Act' Illuminates Areas Of Potential Class Action Exposure For Employers.

I. INTRODUCTION Earlier this year, the Federal Trade Commission (FTC or "the Commission") staff published a report entitled, 40 Years of Experience ...

• Mondaq Business Briefing
• Nbr. 2011, January 2011

• 16 CFR Appendix to Part 600 - Commentary on the Fair Credit Reporting Act

• Code of Federal Regulations - Title 16: Commercial Practices

• Fair Credit Reporting Act and Bank Secrecy Act Compliance:

• FR, April 04, 2011
• Rules
• National Credit Union Administration

• Rethinking the Fair Credit Reporting Act: When Requesting Credit Reports for "Employment Purposes" Goes Too Far

The Fair Credit Reporting Act, tort law, discrimination law, and state statutes offer employees inadequate protection from employers who make good credit histories a condition of employment. Congress should amend the Fair Credit Reporting Act to limit an employer's right to procure credit reports on employees for whom the report has no relevance to the job they are asked to perform. Alternatively, Congress should enact employment legislation prohibiting discrimination based on credit rating unless an employer can show that a credit score has meaningful predictive value for the employment at issue.

• Iowa Law Review
• Nbr. 91-5, July 2006

• 25 CFR 101.10 - Federal Reserve Regulation Z and Fair Credit Reporting Act.

• Code of Federal Regulations - Title 25: Indians

• 17 CFR 160.16 - Protection of Fair Credit Reporting Act.

• Code of Federal Regulations - Title 17: Commodity and Securities Exchanges

• Federal Agencies: Fair Credit Reporting Act Is Constitutional

In a joint brief filed in a Pennsylvania district court case challenging the Fair Credit Reporting Act, three federal agencies have urged the court to...

• Lawyers USA
• May 16, 2012