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Hiring & Firing › Financial Institutions › Background Checks

Hiring & Firing refers to the process of recruiting, interviewing and offering employment and the process of evaluating performance and dismissing employees. Hiring & Firing is a highly regulated area and... more +
Hiring & Firing refers to the process of recruiting, interviewing and offering employment and the process of evaluating performance and dismissing employees. Hiring & Firing is a highly regulated area and can create tremendous liability for employers who fail to properly adhere to acceptable employment practices. Some of the potential pitfalls in this area stem from discriminatory hiring practices, improper performance evaluations, and retaliatory firings.  less -
Ballard Spahr LLP

Appeals Court: No FCRA Informational Injury Standing

Ballard Spahr LLP on

A job applicant who claims he was not fully informed about adverse information that appeared on a background check is not entitled to relief under the Fair Credit Reporting Act (the FCRA), the Sixth Circuit Court of Appeals...more

Guidepost Solutions LLC

Will your Due Diligence Program Meet the New DFS Requirement?

Guidepost Solutions LLC on

The final guidance, issued by DFS on January 22, 2024, requires “regular and rigorous” vetting of key personnel at banking organizations and non-depository institutions. It is clear, that DFS is focused on enhanced scrutiny...more

Ogletree, Deakins, Nash, Smoak & Stewart,...

Congress Eases Criminal Offense Restrictions for Employment With Financial Institutions

Ogletree, Deakins, Nash, Smoak & Stewart,... on

Included in the defense spending bill signed by President Biden in December 2022 is a section with key provisions for financial institutions that will ease restrictions on hiring candidates with criminal records....more

Carlton Fields

Congress Considers Changes to FCRA to Expand Consumer Credit Files and Limit Use of Credit Reports for Employment Decisions

Carlton Fields on

The Fair Credit Reporting Act (FCRA) regulates consumer reporting agencies (CRAs) and the use of consumer reports. The FCRA’s stated purpose includes requiring CRAs to adopt reasonable procedures for meeting the needs of...more

Seyfarth Shaw LLP

New York City Offers Guidance for Employers on the Use of Credit History in Employment Decisions

Seyfarth Shaw LLP on

As we blogged about previously, Mayor Bill De Blasio signed into law the Stop Credit Discrimination in Employment Act (“SCDEA”) in May. The SCDEA went into effect on September 3, 2015 and it prohibits employers from using an...more

Ballard Spahr LLP

FTC provides guidance on FCRA requirements for employer background checks

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When examining banks and companies subject to CFPB supervisory authority for FCRA compliance, CFPB examiners will look at whether the bank or company has followed FCRA requirements for use of background checks on employees...more

Proskauer - Law and the Workplace

Connecticut Broadens Exemptions to Law Limiting Credit Checks

Proskauer - Law and the Workplace on

Connecticut has added mortgage brokers, lenders, and servicing companies to the list of “financial institutions” exempted under the state’s existing law limiting credit checks for purposes of employment. The amendment, which...more

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