HB1987 Summary

• Creates the "Employee Credit Privacy Act" prohibiting employers from using credit history or credit reports in hiring, firing, or employment decisions, with specified exceptions for positions requiring bonding, handling cash/assets over $2,500, signatory authority over $100+, managerial roles, or access to sensitive information

• Exempts financial institutions, insurance companies, state law enforcement, government agencies that require credit checks by law, and debt collectors from the credit check prohibition

• Prohibits employers from inquiring about or obtaining credit reports and from requiring applicants or employees to waive rights under the act

• Provides civil remedies allowing injured individuals to sue for injunctive relief or damages in circuit court, with courts awarding costs and reasonable attorney's fees to prevailing plaintiffs

• Permits employers to conduct background investigations without credit information as allowed under the federal Fair Credit Reporting Act, 15 U.S.C. § 1681 et seq.