Employment Credit Report
For roles involving access to money, sensitive data, or financial oversight, knowing an applicant’s credit history can help assess trustworthiness and risk. Edify’s Employment Credit Report—also known as the Peer Report—provides insight into an applicant’s financial obligations, public record filings, and patterns that may reflect their sense of responsibility.
This version of the report is specifically tailored for employment use and does not include a credit score, account numbers, or sensitive personal identifiers. It is fully compliant with the Fair Credit Reporting Act (FCRA) and available only to employers with proper site inspection and authorization.
How It Works
- We pull credit header data from a major credit bureau using FCRA-compliant methods.
- Report includes account status, collections, bankruptcies, and public records.
- Does not include FICO score, account numbers, or DOB to protect privacy.
When to Use It
- For roles handling funds, P&L responsibilities, or access to financial data.
- To evaluate fiduciary risk for mid- to senior-level hires.
- As part of executive background packages or finance team vetting.
TAT & Fees
- Turnaround time: Typically instant to within 1 business day.
- Flat fee per report, with volume pricing available.
- Site inspection required ($95 setup + annual renewal).
Why It Matters
Financial stress or irresponsibility isn’t always disqualifying—but when candidates will be managing your money or advising your clients, it’s smart to ensure there are no red flags. Employment credit reports offer a compliant and effective way to assess whether an applicant is financially overextended or has a pattern of neglect.
This is especially important in regulated industries like banking, insurance, and securities—or in roles with access to corporate accounts, inventory, or financial systems.
Use-Cases
- Hiring a payroll specialist or accounting clerk handling direct deposits.
- Screening senior sales executives managing client budgets and P&L.
- Onboarding trust-based roles like loan officers, investment advisors, or treasurers.
Employment Credit Report FAQs
Q: Does the report include a credit score?
A: No. Edify’s employment credit report excludes scores to stay FCRA-compliant and focused on credit behavior.
Q: Can I use this in every state?
A: Not always. Some states restrict employment credit checks. Check with legal counsel before use.
Q: Is a site inspection really required?
A: Yes. Credit Bureau regulations require a physical site inspection for credit report access.
Q: How recent is the information in the report?
A: Data is pulled directly from real-time credit bureau systems.
Q: Can this be bundled with other verifications?
A: Absolutely. Credit checks are often part of Edify’s executive and finance-level screening packages.
Authoritative Source
Learn more about compliant use of employment credit reports from the Federal Trade Commission (FTC), EEOC, and Consumer Financial Protection Bureau (CFPB). Edify adheres to PBSA best practices.
Stay Updated with EDIFY Insights Newsletter
Get compliance tips, background screening updates, and HR best practices delivered straight to your inbox.
