FCRA Summary of Rights Form is Updated for 2013

December 28, 2012

The Consumer Financial Protection Bureau has replaced the Federal Trade Commission with regard to the rule making and enforcement responsibilities for the Fair Credit Reporting Act ("FCRA").  Consequently, it has updated the FCRA Summary of Rights (as well as "the Notice to Users of Consumer Reports of their Obligations Under the FCRA" and "the Notice to Furnishers of Information of Their Obligations Under the FCRA") to reflect that change.  Effective January 1, 2013, employers should replace their current FCRA Summary of Rights with the new version. Please click here to review the new version.

While the revisions are basically stylistic and bureaucratic housekeeping (replacing one agency with another), they also strongly hint that the Consumer Financial Protection Bureau has increased the enforcement of the FCRA on its bureaucratic radar.