The U.S. Consumer Financial Protection Bureau (CFPB) has published an updated version of its Summary of Consumer Rights notice. The Summary of Consumer Rights form is one of several federal notification forms employers must provide when conducting background checks in compliance with federal law under the Fair Credit Reporting Act (FCRA).
Employers using consumer reports for employment-related purposes must comply with consumer reporting mandates under state law (e.g., California Labor Code, Arizona’s Consumer Reporting and Fair Credit Reporting statutes) and the FCRA. Together, these laws govern the employer’s ability to obtain consumer information through in-house investigations and its use of information obtained through third-party consumer reporting agencies.
The non-substantive changes made by the CFPB to the Summary of Consumer Rights notice include corrections and updates to CFPB and other Federal agency contact information. Effective April 19, 2023, the mandatory compliance date for the updated form is March 20, 2024.
Employers should visit the CFPB Model Forms and Disclosures website to download the updated form.