What Employers, Especially Financial Institutions, Need to Know about the Fair Credit Reporting Act

The federal Fair Credit Reporting Act (FCRA) allows employers to use “consumer reports” (such as credit checks) not only to evaluate a job applicant, but also to determine an employee’s eligibility for promotion, reassignment, or retention. When using a consumer report for employment purposes, employers must comply with several obligations. This article was published by the American Bankers Association.

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