Code of Colorado Regulations
1100 - Department of Labor and Employment
1101 - Division of Labor Standards and Statistics (Includes 1103 Series)
7 CCR 1103-4 - EMPLOYMENT OPPORTUNITY ACT RULES
3 - Use of Consumer Credit Information for Employment Purposes
Universal Citation: 7 CO Code Regs 1103-4 ยง 3
Current through Register Vol. 47, No. 5, March 10, 2024
3.1 An employer shall not use consumer credit information for employment purposes unless the information is substantially related to the employee's current or potential job. An employer or employer's agent, representative, or designee shall not require an employee to consent to a request for a credit report that contains information about the employee's credit score, credit account balances, payment history, savings or checking account balances, or savings or checking account numbers as a condition of employment unless:
(I) The employer is a bank
or financial institution;
(II) The
report is required by law; or
(III)
The report is substantially related to the employee's current or potential job
and the employer has a bona fide purpose for requesting or using information in
the credit report that is substantially related to the employee's current or
potential job and is disclosed in writing to the employee.
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