On December 19, 2025, Governor Kathy Hochul signed amendments to New York State’s Fair Credit Reporting Act (the Amendments) to restrict an employer’s use of credit history for employment purposes. The Amendments, effective April 18, 2026 with limited exceptions, now make New York the eleventh state to ban the use of consumer credit history and align with the restrictions already in place within New York City.
Under the Amendments, employers may not use an applicant’s or employee’s “consumer credit history” for hiring, compensation, or other terms and conditions of employment. “Consumer credit history” includes (i) information provided in consumer credit reports or credit scores; and (ii) applicant-provided details about credit accounts, bankruptcies, judgments, or liens.
The Amendments also take credit reporting restrictions further by prohibiting consumer reporting agencies from furnishing reports to employers that include an applicant’s or employee’s consumer creditworthiness, standing, capacity, or history based on a consumer’s financial transactions, for employment purposes.
Though the Amendments broadly define “consumer credit history,” they recognize specific exceptions where credit history may still be used for employment purposes. Specifically, the Amendments do not apply to:
Employers required to use an individual’s credit history under state or federal law (or a securities self-regulatory...
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