NYC Mayor Bill DeBlasio signed a bill (Int. 0261-2014) that amends the City’s Human Rights Law to prohibit most employers from inquiring into or considering a prospective or current employee’s credit history when making employment decisions. The law will take effect on September 3, 2015. NYC’s new law is among the broadest bans in the nation and will effectively eliminate the use of credit history for many employers in the City. NYC employers should start to review their background check policies and make any necessary changes. The price for non-compliance is steep, as the law affords aggrieved applicants and employees a private right of action with the promise of generous remedies.

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