Background/Credit Checks

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the company I work for has been sold to another which has been labelled a "transition" where everything is to stay the "same", "business as usual." However, the purchasing company has emailed all of our employees saying that they will be doing a background and credit check on us and want us to sign an authorization, however, they have yet to explain our benefits, etc., so why should I sign something giving them the right to snoop into my personal affairs (credit check) when I can't get any answers to my questions re: 401k, vacation/sick leave, etc.? Can I be fired for refusing to sign the authorization?