The Importance of NAPBS Accreditation
The Federal Trade Commission (FTC) states that they promote The Fair Credit Reporting Act (FCRA) through aggressive enforcement of consumer protection laws. They have sued the three largest credit reporting companies for three million in penalties and a powerful consumer data broker for 15 million dollars. Consumer Reporting Agencies (CRAs), or background screening companies, must meet the highest legal and ethical standards when they conduct background checks on job applicants. https://www.ftc.gov/news-events/media-resources/consumer-finance/credit-reporting The Fair Credit Reporting Act
The FCRA establishes behavior guidelines for credit bureaus, consumer reporting agencies and the individuals that gather and report personal information. The FCRA contains specific rules about what is reportable, when information is no longer accessible and who can access a person’s confidential data. A data breach, inaccurate information, improper procurement methods or willful violations of FCRA rules have serious legal consequences. The standard monetary compensation for statutory damages is up to $1,000, but courts may fine for punitive damages. Even worse, there is no limit to the amount that victims may sue for actual damages.
The Benefits of NAPBS Accreditation…show more content… They ensure that their certified members follow proper procedures, maintain the best practices and obey state and federal regulations. It legally and financially unwise for any organization to hire a background check and investigative firm that isn’t certified to comply with the FCRA, consumer protection guidelines and equal employment opportunity laws. Employers bear serious legal responsibilities when using background checks for employment purposes, so background screening firms that are accredited by NAPBS ensure
