Advisory Case on Reviewing an Executive Candidate's Consent Form for Provision of Personal Credit Information

1. The Client's Situation

The client company sought to conduct an inquiry into the personal credit information of an executive candidate for the purpose of personnel verification, but needed a legal review of whether the consent form and procedures complied with the Credit Information Use and Protection Act. In particular, since the existing consent form for the provision of information might have omitted mandatory items, the client requested a supplementary review.

Based on the Credit Information Use and Protection Act and its related enforcement decree, Your Legal Team reviewed the legality of the existing consent form and then proposed specific items for supplementation. In addition, in response to the request for a lawful form, we provided a standardized sample consent form so that the company could promptly use a legally compliant form.

Reflecting Your Legal Team's review, the client was able to secure a consent form that complied with the Credit Information Use and Protection Act, and was subsequently able to proceed smoothly with the personnel verification procedure. Moreover, by blocking the possibility of legal disputes in advance, the client succeeded in minimizing the legal risks that could arise in the process of collecting credit information.