Instructions on Background Investigation Reports

It is the responsibility of the licensee and its principals to order background investigation reports from an independent licensed private investigation company.  At minimum, the firm must demonstrate that it has sufficient resources and is properly licensed to conduct the research of the background and that the firm is not affiliated with, or an interest of, any of the individuals under investigation. The cost of the report must be borne by the licensee or the individual. The background investigation report must be submitted directly by the private investigation company to DFS.

The following information must be included in the background investigation report:

  1. Comprehensive credit report/history, including the actual report as well as summary
  2. Civil Court and Bankruptcy Court records for the past 10 years *
  3. Criminal records (felonies, misdemeanors and violations) *
  4. Education records
  5. Employment history
  6. Personal and professional references (at least three of each, excluding relatives), which must be furnished in writing
  7. Media history, if applicable (including electronic search of national and local newspapers, wire services and business publications)
  8. Regulatory history, if applicable (HUD, FREDDIE MAC, State Regulators, OCC, FINRA, etc.)
  9. Department of Motor Vehicle records
  10. All judgments and liens filed with the county clerks (within the past 10 years). Such reports shall contain, at a minimum, information on judgments and liens filed with the county clerk in counties where the applicant worked and resided and all counties contiguous to those counties.
  11. Licenses granted by any governmental agency or judicial body, with indication whether they are still in good standing
  12. Listing of all credit relationships by the applicant such as revolving credit and established credit facilities. Indicate any credit extensions, including loans, on which the applicant is in default (more than 90 days past due).

 

*Include federal, state and local courts. Such reports shall contain, at a minimum, court data from courts located in counties in which the applicant both worked and resided and all counties contiguous to those counties.