I just accepted a position with a Fortune 500 company where an MBA is required. I entered the MBA info on the application (name of university, location, GPA and graduation date). I was never asked for actual transcripts or a copy of the degree.
Except for the FBI application process, I have never been asked to produce any documentation to prove I have a college degree.
Part of HR’s responsibilities is to check on applicant credentials. If it’s a solid company (and, as it’s F500, it should be), you were checked out.
ymmv