The amount of money paid by employers to settle Fair Credit Reporting Act (FCRA) lawsuits over the period 2011 to 2019 is about $326 million dollars.
The average payout was $2,2 million dollars. The highest amount was $28 million dollars. The lowest was $40 thousand dollars. And the Median amount was $723 thousand dollars. There were a total of 146 companies paying these fines and penalties over this period. 93 lawsuits were filed from 2016 to 2019 i.e. just the past three years. That means over 60% were filed the past three years. This illustrates the increasing frequency of these class action lawsuits.
These results were compiled by Good Jobs First in Washington, DC, and published in a report on June 19, 2019. Good Jobs First is a national policy resource center for grassroots groups and public officials, promoting corporate and government accountability in economic development and smart growth for working families. We provide timely, accurate information on best practices in state and local job subsidies, and on the many ties between smart growth and good jobs. Good Jobs First works with a very broad spectrum of organizations, providing research, training, communications and consulting assistance.
Good Jobs First reported this new compilation of court records that finds that over the past decade employers have paid out $174 million to resolve class-action lawsuits alleging that they violated federal rules governing the use of background-check reports on job applicants. Companies providing those reports have paid out another $152 million when they have been sued directly.
Our web blog is filled with the names of companies who violated the Fair Credit Reporting Act and the reasons why they violated the Fair Credit Reporting Act. Primarily companies fail to give proper disclosure and fail to provide consumers with copies of reports if an adverse decision is made. Your Consumer Reporting Agency should make the compliance process very easy. Contact us if you would like to further discuss how we can make compliance easier.