Equifax Workforce Solutions wins 2018 Canadian HR Reporter Readers’ Choice Award for Pre-Employment Screening Services

We are truly honoured to announce that Equifax Workforce Solutions has been chosen by the readers of  Canadian HR Reporter, a division of Thomson Reuters, as one of the best service providers in Canada supporting Pre-Employment Screening Services with our Verification Exchange solution. More than 65,000 votes were cast this year as part of the [Read More…]

Workforce Solutions to Exhibit at Human Resources Professionals Association (HRPA) Conference in Toronto

Meet our team at the 2018 HRPA Conference and Trade Show – Toronto, Canada; January 31-February 2 At Equifax, we are more than just credit scores. Canada Workforce Solutions is a specialized division of Equifax providing innovative solutions for the HR, payroll, and compliance needs of Canadian employers. Our employer solutions are designed to enrich [Read More…]

Canadian Residential Mortgage Practices and Procedures and Impact on Income Verifications

Situation On October 17, 2017 the Office of the Superintendent of Financial Institutions Canada (OSFI) published the final version of OSFI Guideline B-20 – Residential Mortgage Underwriting Practices and Procedures. The Guideline which takes effect on January 1, 2018, applies to all federally regulated financial institutions (FRFIs). The Role of Income Verification Two key elements [Read More…]

Verifications Bulletin: California Assembly Bill No. 1676 – Wage Discrimination

Situation In January 2016, the California Fair Pay Act became law, creating new gender pay equity protections under Labor Code section 1197.5. This Act was created to address the persistent gender wage gap and inequality in California and sets legislation in place to ensure that employers do not “pay any of its employees at wage [Read More…]

Proposed Changes to Payday and Short-Term Lending Could Lead to More Verification Requests

Situation You may have seen the CFPB’s proposed rule announced in June that would require payday lenders, and companies that make vehicle title and other high-cost installment loans to determine whether borrowers can afford to pay back their loans. The proposed rule is designed to help consumers who rely on these types of easy-access, short [Read More…]

Making the Right Hire: Verifications Help Decrease Risk

Situation The cost of making the wrong hire can be extremely detrimental to an employer. The actual cost can be more than the salary, benefits and training expense related to that employee, and can also include potential damages from litigation, injuries, headline risk, internal fraud, theft and embezzlement which can be enough to put a [Read More…]

Student Loan Repayment Solutions and Impact on Verifications

February 2016 Income and Employment Verifications Bulletin  In today’s competitive job market, employers continue to review and evolve their employee benefit offerings and recruiting efforts to best attract the top talent for their organizations. In addition to traditional long-term retirement benefits, new employee benefit programs are also focusing on helping to alleviate the near-term financial [Read More…]

Bulletin: Employment Verifications – Mortgage Change Good News for Employers

In case you missed the announcement earlier this summer, Fannie Mae, one of the major Federal Agencies that buys mortgages on the secondary market, has made several data fields on the Request for Verification of Employment (Form 1005) optional. In the mortgage origination and underwriting process, the Form 1005 or 1005(S) may be used to [Read More…]

Bulletin: Income and Employment Verifications – “ACA and the Impact on Verifications”

ACA and the Impact on Employment Verifications According to the Affordable Care Act (ACA), employees not offered medical coverage by their employer (or affordable coverage relative to their household income) might be eligible for Medicaid benefits or tax incentives intended to help them purchase insurance. The Centers for Medicare and Medicaid Services (CMS), the federal [Read More…]