Employers that utilize a third party to obtain background information on applicants and employees, such as a criminal background check or a credit check, must provide applicants/employees with a new version of the Form Summary of Rights Notice prior to taking any adverse action based on the contents of that report. This notice requirement under the Fair Credit Reporting Act (FCRA) is not new: the contents of the form “Summary of Rights” has changed to reflect the fact that the Consumer Financial Protection Bureau (CFPB) has assumed rulemaking authority for the FCRA from the Federal Trade Commission (FTC). A copy of the new form is set forth in Appendix K of 12 C.F.R. Part 1022 (available here).
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