No, we do not believe that sharing information from a job applicant’s credit report with that applicant would violate the FCRA. Nothing in the FCRA prohibits the sharing of information from a credit report with the consumer who is the subject of the report. In fact, the FCRA may require your bank to share some information related to the applicant’s credit report as part of the applicant’s employment-related adverse action notice.

Note that there are some restrictions on using credit report information for employment purposes. For example, the Bankruptcy Code prohibits employers from discriminating solely because a bankruptcy case appears on an individual’s credit report. Consequently, while your bank may share credit report information with job applicants, it may be prudent as a matter of bank policy to limit your employees’ sharing of this information with the applicants.

Also, we recommend reviewing your contract with the third-party vendor that provides you with their proprietary credit reports to ensure that there are no contractual limitations on sharing their reports or the information pulled from such reports with the persons who are the subject of the reports.

For resources related to our guidance, please see:

• FCRA, 15 USC 1681a(k) (“The term ‘adverse action’” means “(ii) a denial of employment or any other decision for employment purposes that adversely affects any current or prospective employee.”)

• FCRA, 15 USC 1681m(a) (“If any person takes any adverse action with respect to any consumer that is based in whole or in part on any information contained in a consumer report, the person shall [among several other items of information] (1) provide oral, written, or electronic notice of the adverse action to the consumer; (2) provide to the consumer written or electronic disclosure (A) of a numerical credit score . . . used by such person in taking any adverse action based in whole or in part on any information in a consumer report; . . .”)

• U.S. Bankruptcy Code, 11 USC 525(b)  (“No private employer may . . . discriminate with respect to employment against an individual who is or has been a debtor under [the Bankruptcy Code], solely because such debtor or bankrupt (1) is or has been a debtor under this title or a debtor or bankrupt under the Bankruptcy Act; (2) has been insolvent before the commencement of a case under this title or during the case but before the grant or denial of a discharge; or (3) has not paid a debt that is dischargeable in a case under this title or that was discharged under the Bankruptcy Act.”)