Helpful Advice for Banks & Other Financial Institutions that Conduct Employment Verifications

Nick Fishman

(I know, long title). Many of you have seen recent articles we’ve written about what employers can and cannot or do and do not say when providing employment verification information on former employees. One of our clients was kind enough to pass along this article, Are You Hiring A Crook written by Mary Beth Guard at Bankersonline.com.

The article focuses on financial institutions who have terminated employees due to fraud or theft in the workplace, but where charges have never been filed. Many employers are scared to divulge such information if asked for fear of a lawsuit from the former employee. Most are unaware that the USA Patriot Act actually affords them the protection they need to warn financial institutions that might consider the individual for employment.

If you work in the financial sector, this article is a must read. I would recommend paying close attention to how this protection can be used and under what circumstances. I was so facsinated by this little know provision in the Patriot Act that I contacted the author and she was only so kind to offer her opinions and advice for how financial institutions can utilize this important protection. One thing that I found unfortunate was the fact that the language in this provision seems to make it impossible for a CRA (background screening organization) to conduct this type of verification on the employer’s behalf.

Enjoy the article.

Nick Fishman
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Nick Fishman

Nick Fishman is the co-founder of EmployeeScreenIQ, a leading, global employment background screening provider, and serves as the company’s executive vice president and chief marketing officer. He pioneered the creation of EmployeeScreen University, the #1 educational resource on employment background checks for human resources, security and risk management professionals. A recognized industry expert, Nick is a frequent author, presenter and contributor to the news media. Nick is also a licensed private investigator in the states of Ohio and Texas.
Nick Fishman
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