Blogs

INDUSTRY NEWS

New Law in Puerto Rico Prohibits Employers from Taking Employment Action Based on Credit Reports or Credit History

Taking effect immediately upon signature, the Governor of Puerto Rico signed Act No. 150 into law on October 8, 2019

Act No. 150 precludes employers from verifying or investigating credit history or credit reports concerning current employees or employment applicants. Furthermore, the Act prevents employers from securing or ordering such reports from a credit agency. Taking adverse employment actions against an employee or applicant based on credit report or history information is also prohibited by the terms of the Act.

There are exceptions to Act 150 including positions in management, positions in the Department of Justice or the Judicial Branch and public order officials. Also exempt from the Act are positions involving access to trade secrets, financial information, personal data or cash/goods subject to misappropriation equaling a minimum of $10,000. The Act further provides exemptions for positions regulated by the Puerto Rico Office of the Commissioner of Financial Institutions or for situations in which a credit report is required by federal law.

In scenarios in which an exception applies, employers are required to obtain written consent from the employee or applicant as a precursor to obtaining access to an individual’s credit history or credit report.

To ensure compliance with Act 150, it is recommended that employers review employment practices; violations of the Act may be subject to administrative penalties of up to $2,500 per occurrence.

Posted: November 6, 2019


All Rights Reserved © 2019 Business Information Group, Inc.
This document and/or presentation is provided as a service to our customers. Its contents are designed solely for informational purposes, and should not be inferred or understood as legal advice or binding case law, nor shared with any third parties. Persons in need of legal assistance should seek the advice of competent legal counsel. Although care has been taken in preparation of these materials, we cannot guarantee the accuracy, currency or completeness of the information contained within it. Anyone using this information does so at his or her own risk.

Sending...
Thank you for your interest in Business Information Group. We have received your message and will contact you in one business day or less.
You have exceeded the number of attempts to submit this form. As a result, your IP address has been temporarily blocked.

Get In Touch

Send a Message *fields required

What are your Interests?optional

Contact Information

Even our RFP PROCESS is state-of-the-art.

Take a look
RFP Kit

What our clients are saying

We cannot express enough how much we have enjoyed working with BIG! It has really benefitted our processing and ease of doing business!

Licensing and Registration Manager
Investment and Insurance Company

I enjoy collaborating with BIG, and know that if I have to reach out with a question/concern, a positive attitude with a willingness to find resolve is on the other side of an email or a phone call.

Human Resources Administrator
Global Financial Services Firm

You have been the most professional and most helpful business partner that I have ever been associated with — always there to assist us and with rapid turnaround times.

Principal Consultant
Major Professional Services Network

I am confident whenever we add a product with your company that I will have a good experience.

Division Manager
Insurance and Financial Services Agency

We have received superior service and we know this is what you and your team strive for. We are grateful for the dedication, level of professionalism and effort shown.

Agent
Large Insurance Agency
Sending...
Thank you for your interest in Business Information Group. We have received your message and will contact you within one business day.
Our apologies, there was an error processing your request.  Please resubmit your message or contact us at 800-369-2612.
You have exceeded the number of attempts to submit this form. As a result, your IP address has been temporarily blocked.
Our apologies, there was an error processing your request.  Please resubmit your message or contact us at 800-369-2612.

Get In Touch

Send a Message *fields required

What are your Interests?optional

You are leaving BIGReport.com

Ok, Continue Cancel

×
×