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hiring background checks

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I recently applied for a position with a Rhode Island Company and they asked me to sign a form allowing them to perform a credit and criminal background check on me. I declined and said I would sign the form only if there was an offer. They verbally offered me the position and I accepted but they called back several days later after I had already given my notice to my current employer and said they needed me to sign the form before they could send out a letter of hire. I dont mind them doing a criminal background check on me but can they force me to agree to allow them access to my credit information after they already verbally gave me the position? I consider my financial information very private and I dont think they have the right to view it.
 



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