Legislation and Compliance Update: CFPB Updates Summary of Rights Under FCRA

By Michael Klazema on 10/12/2012

Effective January 1, 2013, the Consumer Financial Protection Bureau (CFPB) has made updates to the Summary of Rights that the Federal Trade Commission previously created under the Fair Credit Reporting Act. Generally, a report that a background screening agency like provides for use in connection with employment are “consumer reports” under the FCTA

The Summary of Rights is the document that explains to individuals what their rights are under the FCRA.  The FCRA requires you to provide this summary to individuals on whom you order consumer reports in two typical circumstances. First, you must provide it as a disclosure in connection with requesting “investigative” consumer reports, where the consumer reporting agency obtains information for you through interviews. Second, you must provide it before taking adverse action in connection with a consumer report for employment purposes.  Additionally, provides this when we provide sample forms to customers, when we collect authorizations from consumers, when we provide dispute forms, when we send certain notices and disclosures, and when we close disputes.

Attached you will find a copy of this updated Summary of Rights.  It is also available at:

It is recommended that you update this form by January 1, 2013.

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