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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.
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.
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.
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
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.
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
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.
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.
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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