Restrictions on Use of Credit Reports in New York

Earlier this month Bill de Blasio, Mayor of New York City, signed Enactment: 2015/037, which bans the use of credit reports by some employers.  This ordinance will go into effect early September 2015.

There are some exceptions to the restriction, including:

•  Employers, or agents thereof, that are required by state or federal law of regulation to obtain a credit report.
•  Self-regulatory organizations under §3(a)(26) of the Security Exchange Act of 1934.
•  Peace officers
•  Those governmental appointed positions in New York City that have a “high degree of public trust” as defined by commission.
•  Positions required to be bonded under local, state or federal law.
•  Non-clerical positions having access to: trade secrets, intelligence information, or national security information.
•  An employee having signatory authority over third party funds or assets of $10,000 or more.
•  An employee having authority to enter into financial agreements on behalf of the employer for over $10,000.
Positions that allow employee to modify digital security systems.
Persons required by §12.110 of the New York City code to provide disclosures relating to conflicts of interest.

A copy of the law (Int 0261-2014) may be viewed at:

Information from CRA Helpdesk.

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