The Consumer Financial Protection Bureau (CFPB), the federal agency taking over responsibility for overseeing the Fair Credit Reporting Act (FCRA) from the Federal Trade Commission effective January 1, 2013, has issued revised forms related to the FCRA. (See our article, Updated Federal Credit Reporting Act (FCRA) Notices.) Implementation was to commence by January 1, 2013; however, to err is human, and the CFPB has issued another set of revised forms stating that forms it previously issued contained "typographical" or "other technical errors." The new forms include the Summary of Consumer Identity Theft Rights, Summary of Consumer Rights, Notice of Furnisher Responsibilities, and Notice of User Responsibilities.
Employers who conduct background checks using third-party consumer reporting agencies are most familiar with the Summary of Consumer Rights. The new forms are available at http://.gpo.gov/fdsys/pkg/FR-2012-11-14/pdf/2012-27581.pdf. However, CFPB has stated that, until further notice, it will regard the use of the model forms that it previously published “to constitute compliance with the FCRA provisions requiring such forms and will regard those forms to be substantially similar to the corrected forms.”