Update on Credit Checks and Exemptions under NY City Law Sept. 10 2015

By Memorandum dated May 11, 2015, we informed our New York City clients that pursuant to the newly enacted amendment to the New York City Administrative Code, entitled the Stop Credit Discrimination in Employment Act (“SCDEA”) effective September 4, 2015, employers could no longer request information contained in a consumer credit history of a job applicant or employee or use such information for employment purposes. We also notified our clients that the SCDEA provided an exemption, permitting employers to perform credit checks on candidates for top-level executive positions with fiduciary responsibilities over funds or assets worth $10,000 or more, non-clerical positions with access to trade secrets, positions with control over digital security systems and positions for which credit checks are required by law or selfregulatory organizations.