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Old 12-23-2013, 04:00 PM
 
Location: The Jar
20,068 posts, read 14,429,324 times
Reputation: 36811

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Quote:
Originally Posted by The Dissenter View Post
Elizabeth Warren Introduces Legislation To Prohibit Job Applicant Credit Checks

As someone who deals with credit reports for a living, I fully support this bill. Just because I wouldn't trust you enough to grant you a car loan does not mean that you would place my company in trouble if you got hired on as an IT guy or a plumber. A lot of people saw their credit score drop to the mid and lower 500s as a result of the great recession which included tightened credit, a lot of layoffs, and a bumper crop of foreclosures.

Also what the hell are you going to tell someone who just got through beating an aggressive cancer but has $200k+ in medical bills after insurance to do? Pay on those impossible bills and sacrifice food and a roof to keep their credit good or declare bankruptcy and wipe the slate clean and rebuild their lives and put their money towards surviving?

One caveat I have to this bill, is to exclude the banking field, specifically handling actual banking transactions.
Great thread!

 
Old 12-23-2013, 04:13 PM
 
Location: Arizona
5,509 posts, read 6,127,550 times
Reputation: 7287
Quote:
Originally Posted by FundamentalBibleBeliever View Post
There was a research study performed in the last few years by LSU, Texas Tech and Northern Illinois University to see the correlation between job performance and credit scores. The 2 things I noticed from the study showed that people with better credit scores proved to be more Conscientious in the work place and had a higher degree of Loyalty. Those are 2 very important traits to any employer. I think it was CBS that did a story on this in the past if you want to look it up.
You might have wanted to look it up yourself before you go citing the LSU study ( the only one I could find). The results were mixed at best, and the lead researcher himself doubts the usefulness of credit reports for employers.

Employees with Bad Credit Scores Are Not Unethical on the Job, Study Says | TIME.com

http://josephsoninstitute.org/busine...b-performance/
 
Old 12-23-2013, 04:21 PM
 
Location: Clanton, AL
668 posts, read 570,628 times
Reputation: 81
Quote:
Originally Posted by johnp292 View Post
You might have wanted to look it up yourself before you go citing the LSU study ( the only one I could find). The results were mixed at best, and the lead researcher himself doubts the usefulness of credit reports for employers.

Employees with Bad Credit Scores Are Not Unethical on the Job, Study Says | TIME.com

New research finds no link between credit scores and job performance
We studied it back when it came out and saw there were some useful information gleaned from them as I pointed out in my post.
 
Old 12-23-2013, 04:24 PM
 
Location: All Over
4,004 posts, read 4,574,469 times
Reputation: 3092
yeah financial problems can be due to healt problems and things out of ones control but majority of the time its being irresponsible so i can see why a company would want to see this. another thing is someone in financial trouble is more likely to steal maybe i dont wanna hire them
 
Old 12-23-2013, 04:30 PM
 
170 posts, read 310,471 times
Reputation: 215
Quote:
Originally Posted by FundamentalBibleBeliever View Post
There was a research study performed in the last few years by LSU, Texas Tech and Northern Illinois University to see the correlation between job performance and credit scores. The 2 things I noticed from the study showed that people with better credit scores proved to be more Conscientious in the work place and had a higher degree of Loyalty.
So, what? That doesn't change the fact that it's an invasion of privacy to look at someone's credit report.

I bet that employers could make even better hiring decisions if they had access to everyone's medical records. Doesn't mean they should be allowed to do that.
 
Old 12-23-2013, 04:30 PM
 
Location: Arizona
5,509 posts, read 6,127,550 times
Reputation: 7287
Quote:
Originally Posted by doodlemagic View Post
yeah financial problems can be due to healt problems and things out of ones control but majority of the time its being irresponsible so i can see why a company would want to see this. another thing is someone in financial trouble is more likely to steal maybe i dont wanna hire them
Prove that please.
 
Old 12-23-2013, 05:24 PM
 
Location: Clanton, AL
668 posts, read 570,628 times
Reputation: 81
Quote:
Originally Posted by TheSoundOfMuzak View Post
So, what? That doesn't change the fact that it's an invasion of privacy to look at someone's credit report.

I bet that employers could make even better hiring decisions if they had access to everyone's medical records. Doesn't mean they should be allowed to do that.
I have never looked at anyone's credit history who did not give me permission to do so. No invasion of privacy there. They all allow it of their own free will. Nothing wrong with that. People have the right to choose to let us see it.

Some medical issues are considered by most during the hiring process. Those that will affect work performance and attendance.
 
Old 12-23-2013, 05:26 PM
 
24,503 posts, read 35,425,625 times
Reputation: 12832
Horrible.
 
Old 12-23-2013, 05:26 PM
 
Location: Clanton, AL
668 posts, read 570,628 times
Reputation: 81
Quote:
Originally Posted by doodlemagic View Post
yeah financial problems can be due to healt problems and things out of ones control but majority of the time its being irresponsible so i can see why a company would want to see this. another thing is someone in financial trouble is more likely to steal maybe i dont wanna hire them
That's why employers use credit histories rather than credit scores. So they can see the circumstances and allow for such things. It's the patterns over time that the history shows. That's what employers are interested in.
 
Old 12-23-2013, 05:31 PM
 
24,503 posts, read 35,425,625 times
Reputation: 12832
I'm an absolutely firm believer that an employer should only have access to an individual's credit report with explicit permission. However, banning access across the board is extremely careless.
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