The Fair Credit Reporting Act limits the circumstances under which a consumer reporting agency may furnish a consumer report.   Therefore, creditors and anyone else who is a user of consumer reports must understand the allowable purposes for which consumer reports may be obtained and the privacy implications of obtaining consumer reports for impermissible purposes.  

In addition to the permissible purposes that are enumerated under the act, there is a history of interpretations on the meaning of “permissible purpose” under different circumstances and scenarios. There is also a number of court cases that tell an interesting story about the current privacy concerns over use of consumer reports.  

In this one-hour webinar we will:

• Review the basics of the FCRA permissible purposes requirements, including the circumstances under which it is permissible for a consumer reporting agency to furnish a consumer report
• Discuss the sometimes controversial question of whether you need to get the customer’s written authorization to obtain a consumer report when there is an application for credit 
• Cover the use of consumer reports for employment purposes. While “employment” is a permissible purpose under the FCRA, there are certain additional conditions on obtaining consumer reports for employment purposes and we will review those additional conditions and disclosures that are required when a consumer report is used in connection with employment
• Review the use of consumer reports for account review and other uses after a consumer account has been opened
• Review some of the recent litigation that addresses permissible purpose 

Who Should Attend:   Compliance officers, marketing staff, auditors, lenders, human resources, new accounts, branch staff who take application