Under the Fair Credit Reporting Act, a consumer reporting agency, on request by and proper identification of the consumer, must clearly and accurately disclose to the consumer:
the nature and substance of certain information in its files on the consumer;
the sources of most of that information;
the recipients of any consumer report on the consumer furnished for employment purposes within the two-year period preceding the request, and for any other purpose within the one-year period preceding the request;
the dates, original payees, and amounts of any checks on which is based any adverse characterization of the consumer, included in the file at the time of the disclosure; and
a record of all inquiries received by the agency during the one-year period preceding the request that identified the consumer in connection with a credit or insurance transaction that was not initiated by the consumer.
The Illinois Request for Disclosure as to Nature and Scope of Investigative Consumer Report is an important document designed to protect consumers and provide them with information regarding the nature and scope of investigative consumer reports conducted on them. Investigative consumer reports are comprehensive background checks performed by third-party agencies or companies to assess an individual's creditworthiness, character, reputation, and general conduct. They typically include information related to an individual's credit history, criminal records, employment history, educational background, references, and more. The Illinois Request for Disclosure serves as a tool for consumers to gain insight into the investigative consumer reports being conducted on them. It ensures that individuals have access to information about the nature and extent of these investigations. This document obliges consumer reporting agencies to provide consumers with a written disclosure, upon request, which outlines the following information: 1. Nature of the Investigation: The request aims to reveal the purpose and objective of the investigative consumer report. For instance, if the report is being conducted for employment purposes or for housing applications, this should be clearly identified. 2. Scope of the Investigation: The request seeks to obtain information about the particular aspects that will be covered in the investigative consumer report. This may include details on credit history, criminal records, employment verification, educational qualifications, references, and any other relevant information. 3. Sources of Information: Consumers have the right to know the sources from which the information will be collected. This may include credit bureaus, public records, previous employers, educational institutions, and more. 4. Summary of Rights: The request ensures that individuals are aware of their rights under the Fair Credit Reporting Act (FCRA) and any additional state-specific regulations. This summary may include information on how to dispute inaccurate information, the right to obtain a free copy of the investigative consumer report, and the limitations placed on the use of such reports. Different types of Illinois Request for Disclosure as to Nature and Scope of Investigative Consumer Reports may include: 1. Employment-related Disclosure: This report is requested by employers who seek to conduct background checks on potential employees. It helps employers assess the suitability of candidates for a particular job position based on their background, reputation, and character. 2. Housing-related Disclosure: Landlords and property management companies may request this report to evaluate the reliability and credibility of tenants. It assists in assessing prospective tenants' financial responsibility, prior rental history, and any criminal records, ensuring a safer and more reliable rental process. 3. Financial-related Disclosure: Financial institutions, like banks or credit unions, may request this report when considering loan applications or extending credit to individuals. This type of report evaluates an individual's credit history, financial stability, and overall creditworthiness. In conclusion, the Illinois Request for Disclosure as to Nature and Scope of Investigative Consumer Report is an essential document that safeguards consumers' rights and provides them with crucial information about the investigative consumer reports conducted on them. It ensures transparency and empowers individuals to understand and address any potential discrepancies or inaccuracies in their reports.
