They can possibly review your credit report.
“All other employers can only review consumer credit information for two specific types of positions.”
So aside from bank/financial institutions & those required by law, an employer can access your credit report if they can prove 1 of 2 types of categories.
#1
‘The law refers to the first type of position as “executive or management personnel or officers or employees who constitute professional staff to executive and management personnel.”'
Entry level hires won't fall into this category, so we will ignore it.
#2
‘second type of position as one that “nvolves contracts with defense, intelligence, national security or space agencies of the federal government.”'
Ding ding! If your firm does any work with government agencies they can run your credit. They just have to prove a few things.
“First, the employer must have a bona fide purpose for requesting or using information in the credit report that is substantially related to the applicant or employee’s current or potential job. Second, the employer must provide a written disclosure to the individual.”
They have a purpose. You audit confidential information.
‘If an employer determines that it can use an applicant or employee’s consumer credit information for employment purposes, the new law allows the employer to inquire further and to give the individual an opportunity to explain any “unusual or mitigating circumstances where the consumer credit information may not reflect money management skills but is rather attributable to some other factor, including layoff, error in the credit information, act of identity theft, medical expense, military separation, death, divorce, or desperation in the employee’s family, student debt, or a lack of credit history.”'
So if you have an issue, they have to let you explain before declining you.
In conclusion, some firms are given the green light to run credit checks.
BEC Oct2014 - 85
AUD Jan2015 - ??
REG Feb2015 - ??
FAR May2015 - ??
.