Sweetheart Checks

I honestly dont know why i did this, i was really bored…so yeahh

The 1970s gave birth to disco, mood rings, pet rocks and pivotal legislation to regulate the emerging credit reporting industry. The Fair Credit Reporting Act, FCRA for short protects consumer rights and governs the use of consumer reports. You can think of it as the chaperone on the date between an employer and a credit-reporting agency. The FCRA, tries to make sure that no one is telling lies or revealing outdated information. As an employer, it is imperative that you are familiar with this legislation. Here are three basic facts about the FCRA that you should know. Number one, the Fair Credit Reporting Act states that Credit Reporting Agencies must take every measure to ensure that they are reporting accurate information. According to the Safe Hiring manual, credit reporting agencies “should have written procedures that are followed and enforced to ensure maximum accuracy.” Number two…Credit Reporting Agencies are not allowed to report outdated information. Getting back to our dating analogy…when you are in your 30s, its irrelevant for your significant other to know about the dates you had at 16. The same idea applies to consumer information. Bankruptcy records, civil suits, civil judgments, records of arrest, and tax liens all have a 7 to 10 year expiration date, meaning once that time has elapsed, agencies are no longer allowed to report that information. Lastly, the FCRA mandates that credit-reporting agencies follow certain guidelines when reporting adverse …

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