The CFPB Cautions Employers About Using Technology to Track, Assess, and Evaluate Workers

by Rod M. Fliegel, William J. Simmons, Chad J. Kaldor - Littler

On October 24, 2024, the federal Consumer Financial Protection Bureau (CFPB) published a circular cautioning employers about using workplace tracking technology, including AI, under the Fair Credit Reporting Act (FCRA). The CFPB has the primary regulatory and interpretive role regarding the FCRA and shares the enforcement role with the Federal Trade Commission (FTC). The gist of the CFPB’s circular is that employers may need to comply with the FCRA’s employment-related provisions before using such technology. In his prepared written remarks, CFPB Director Rohit Chopra stated: “We are making clear that employers that traffic in data about workers and make decisions – including hiring and firing – using third-party scores based on tracking must adhere to federal protections.”

Read more: https://www.littler.com/publication-press/publication/cfpb-cautions-employers-about-using-technology-track-assess-and

CFPB Seeks to Fundamentally Alter the Credit Reporting Process and Use of Public Data

by Brownstein Hyatt Farber Schreck, Sarah Auchterlonie, Courtney Bartkus, Leah Dempsey, Joel Herberman, Leah Regan-Smith - JD Supra

On Sept. 21, 2023, the Consumer Financial Protection Bureau (CFPB) officially announced it is considering a rulemaking to address several consumer reporting topics under the Fair Credit Reporting Act (FCRA). Under the process established by Congress in the Small Business Regulatory Enforcement Fairness Act of 1996 (SBREFA), the CFPB is required to consult with representatives of small entities likely to be affected directly by the regulations. Thus, the CFPB convened a panel of Small Entity Representatives (SERs) to consider and provide feedback on its proposals and alternatives under a condensed time frame of approximately one month.

Read more: https://www.jdsupra.com/legalnews/cfpb-seeks-to-fundamentally-alter-the-2005551/

CFPB Extends Deadline for FCRA Rulemaking Feedback by One Week

by David Anthony, David Gettings, Ethan Ostroff, Kim Phan, Ronald Raether, Chris Willis, Troutman Pepper - JD Supra

As discussed here, on September 21 the Consumer Financial Protection Bureau (CFPB) released an outline of its plans for rulemaking under the Fair Credit Reporting Act (FCRA). The outline was supplied for initial comment to a panel of small business representatives convened under the Small Business Regulatory Enforcement Fairness Act (SBREFA).

Read more: https://www.jdsupra.com/legalnews/cfpb-extends-deadline-for-fcra-7003211/