AP writes about impact of credit scores for job applicants
University job fairs include finance information
Kathleen Miller of the Associated Press writes about legislative pushes to eliminate credit checks of job applicants. The story notes that the recession has hurt many people’s credit scores.
“Employers say such checks give them valuable information about an applicant’s honesty and sense of responsibility. But lawmakers in at least 16 states from South Carolina to Oregon have proposed outlawing most checks, saying the practice traps people in debt because their past financial problems prevent them from finding work.”
The story says the percentage of employers running credit reports on at least some applicants rose from 42 percent in 2006 to 60 percent, according to surveys.
Today’s Tip: Remember not everything has one cause.
Unemployment data points to company cutbacks, curbed consumer spending and industry changes. Miller’s story adds the issue of credit scores to the list. The story also adds to the increased coverage of credit scores after the credit card legislation went into effect.
After this story was written, CreditScore.net responded with this teaching tool which we thought could be a good resource: What You Should Know About Credit Checks on Job Applicants
