CFPB Warns About Using Old Information in Background Checks (1)

The Consumer Financial Protection Bureau warned credit reporting companies against including outdated and duplicative information, particularly about people’s criminal records, in background check reports.

The CFPB issued two advisory opinions Thursday targeting the credit reporting industry, which is dominated by Experian Plc, Equifax Inc., and TransUnion.

The first reminded consumer credit reporting companies to, among other things, start the clock on a seven-year time limit for criminal charges from the time of the original charge if a person is found not guilty. The second advisory opinion said credit reporting companies are expected to provide consumers with complete credit ...