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Elizabeth Warren: Stop Employers From Conducting Credit Checks

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Incorruptible said:
I doubt very many of them. It's easy for them to support this idiotic bill when it doesn't affect them.
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I would like to know, it's a fiar question. I'm sure I've been guilty of the same thing, "Yeah, that's a great idea." It applies to you..."It sucks balls."

Too bad crap congress does doesn't apply to them a lot of the time.
 
Greenman said:
What happens to people who's credit report is screwed up by the reporting company? At one point in my life, my credit report showed that my house had been foreclosed, and that I was 9 when I bought it with my 27 year old wife.

We've already given far too much power to credit reporting company's. If we're going to continue down this road then they need to be 100% liable for the contents and accuracy of the report. If you don't get a job because of a mistake in your credit report, they should pay your salary until you're hired elsewhere.
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I think you're going a little too far with this but this may be an industry that is due for more oversight. Maybe from the perspective of them being required to reach out to people every 24 months, 12 months? I run a free credit report once a year to make sure bad guys aren't doing bad things. I fully understand that not everyone is that pro-active. The information credit reporting agencies are collecting has become of extreme importance. Let's put some more responsibility on them instead of foisting it onto the individual.

Somewhat related story.

Congress is Plugging the Wrong Hole

Now there's a title that will raise an eyebrow.
 
waggy said:
Personally i think a Credit check is only needed for people who are directly working with large sums of money.
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The big question is just how many companies are actually using credit checks? The study the article in the OP is based on is a study done by a liberal think tank. That already puts the validity of the information in question. We know that the progressive left will lie with no second thought given to it and at the drop of a hat.

I think this is more than likely a manufactured issue put to use by the left to try and reinforce the impression that the left and only the left is looking out for the little guy.
 
highland145 said:
If you want to work for me, I'm checking your credit before you handle my $$. If you are a deadbeat that has stolen from finance companies, you're not working for mine. If your credit is bad due to health, medical, unemployment, destitution, etc then I'll ignore it. Simple. Just like I do when considering credit now.

If the government says I can't check your credit, you might want to supply a copy of your own or I may ask you to get bonded before I hire you in case you do steal from me.

Protecting my business is my business.
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This, exactly. I can't believe that this is even an issue. If a prospective employee is not responsible with his or her money, why the hell would I expect him/her to be responsible with mine?

A bad credit score is not an automatic deal breaker, but I'd certainly want to hear a credible reason with supporting evidence before even considering that person. If idiots like Elizabeth Warren get their way, then expect prospective employees to carry the cost of being bonded.

Remember, this isn't just punishing people for bad decisions, it's also rewarding people for good decisions.
 
boomerang said:
I think this is more than likely a manufactured issue put to use by the left to try and reinforce the impression that the left and only the left is looking out for the little guy.
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You are kidding right? Read these forums for gawds sake. Who is attacking unions, the working man, the poor, the vunerable.... the RIGHT. Who is vehemently supporting more handouts for the rich..... the RIGHT.
 
Lessons learned from this thread:
1. Most people are more sane than I thought.
2. Incorruptible probably has bad credit and an STD.
 
bshole said:
You are kidding right? Read these forums for gawds sake. Who is attacking unions, the working man, the poor, the vunerable.... the RIGHT. Who is vehemently supporting more handouts for the rich..... the RIGHT.
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I envy you. Going through life with your thoughts spoon-fed to you by a group of people that have convinced you that this is a black and white world with no shades of gray and that they are the answer to all your problems. They thought that in Detroit too. Election after election after election.

That Kool-Aid is yummy, ain't it? Next time you pull that 'D' lever, be sure to have on your Yes We Can! t-shirt.
 
brycejones said:
Please provide evidence that shows people with poor credit pose a bigger risk in certain positions. If you can't then you're just voicing an opinion.
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I would think that would be very difficult to document. I'm guessing such proof would be employees who were terminated for embezzling etc and finding a strong correlation with poor credit.

But, for what seems like the longest time, due to threat of lawsuits, employers do not give out that kind of data. Last I heard most will only confirm if you worked there, and nothing beyond that is provided.

In other words, you're asking for the impossible.

----------------------

Here in my smallish town we've had any number of people arrested for fraud, theft and embezzling. I'm referring to people with no criminal background and were thought of very highly in the community. In all these cases the theft was attributable to financial pressures. In these cases a credit report might have been extremely helpful.

A couple of examples:

1. Prominent attorney who actually ran for US Senate as the Democratic Party candidate. This guy was no 'light weight'. He was very 'connected'. But his investments were real estate and a popular downtown restaurant. Both took a big blow in '08 recession. To hang on to his R/E and restaurant he 'borrowed' money out clients' escrow accounts - several million. I suppose he counted on the economy turning around in a few yrs like always, except this time it didn't (still hasn't IMO), and he'd be able to replace the money before anybody knew. Didn't happen and now he's in federal prison.

2. A former client of mine who was a physician's assistant (they have a degree and a license, think of them as a lite version of doctors). He got caught doing medical procedures that were above his certification and lost his license. So, he was out-of-work and facing financial pressures. He subsequently embezzled about $25K from the local high school's booster club and got caught.

These people were not criminals with a prior record and a credit check might have proven valuable.

I can think of numerous other similar instances, and there are likely many more that I've never heard of.

Fern
 
Fern said:
I would think that would be very difficult to document. I'm guessing such proof would be employees who were terminated for embezzling etc and finding a strong correlation with poor credit.

But, for what seems like the longest time, due to threat of lawsuits, employers do not give out that kind of data. Last I heard most will only confirm if you worked there, and nothing beyond that is provided.

In other words, you're asking for the impossible.

----------------------

Here in my smallish town we've had any number of people arrested for fraud, theft and embezzling. I'm referring to people with no criminal background and were thought of very highly in the community. In all these cases the theft was attributable to financial pressures. In these cases a credit report might have been extremely helpful.

A couple of examples:

1. Prominent attorney who actually ran for US Senate as the Democratic Party candidate. This guy was no 'light weight'. He was very 'connected'. But his investments were real estate and a popular downtown restaurant. Both took a big blow in '08 recession. To hang on to his R/E and restaurant he 'borrowed' money out clients' escrow accounts - several million. I suppose he counted on the economy turning around in a few yrs like always, except this time it didn't (still hasn't IMO), and he'd be able to replace the money before anybody knew. Didn't happen and now he's in federal prison.

2. A former client of mine who was a physician's assistant (they have a degree and a license, think of them as a lite version of doctors). He got caught doing medical procedures that were above his certification and lost his license. So, he was out-of-work and facing financial pressures. He subsequently embezzled about $25K from the local high school's booster club and got caught.

These people were not criminals with a prior record and a credit check might have proven valuable.

I can think of numerous other similar instances, and there are likely many more that I've never heard of.

Fern
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Yep, I know a few like that as well, including one guy who was previously a straight arrow. But he lost a very good job when his boss died and the widow foolishly decided to simply liquidate the business rather than continue allowing the same people to run a successful small business. He took a substantial check from a client, cashed it, and kept it. Had his employer done a credit check he'd have known this man was in dire financial straights, having kept his lifestyle without any income, and either would not have hired him or would have done something to prevent this from happening.
 
Well, personally it has been a crock of shit in regards to this family... My wife wanted to change up her career and become an Air Force nurse and had to put together an extensive package to present herself and her credentials to the people in charge of it all. The recruiter came back and was simply ecstatic over the stuff she put together calling it the best he has seen in 25 years...
Needless to say, because of my back surgery and resulting paralysis of my legs, I lost my job and income and our credit (most was joint) was ruined.
She was rejected because of the credit score. That was all, nothing else.
What a crock.
 
Hammerman said:
Well, personally it has been a crock of shit in regards to this family... My wife wanted to change up her career and become an Air Force nurse and had to put together an extensive package to present herself and her credentials to the people in charge of it all. The recruiter came back and was simply ecstatic over the stuff she put together calling it the best he has seen in 25 years...
Needless to say, because of my back surgery and resulting paralysis of my legs, I lost my job and income and our credit (most was joint) was ruined.
She was rejected because of the credit score. That was all, nothing else.
What a crock.
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Are you saying the military checks peoples' credit scores?

Edit: Sorry for your troubles. And not sure why a credit score is relevant for a nurse, they don't handle money etc.

Fern
 
Fern said:
Are you saying the military checks peoples' credit scores?

Edit: Sorry for your troubles. And not sure why a credit score is relevant for a nurse, they don't handle money etc.

Fern
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Using the logic from other people in this thread, bad credit makes someone more likely to be a thief. A nurse has access to medical supplies which can fetch a pretty penny on the street. So clearly, someone with bad credit shouldn't be trusted in that position; they're liable to commit theft.

I think we're taking things too far with regards to stripping people of their privacy to qualify for jobs. If your job does not entail actually borrowing money and then repaying it, your credit score has nothing to do with your job performance. If you have a rash of thieves stealing from you, you need to develop a better interview process to weed out undesirable candidates, not assume everyone who applies for the job is out to rob you. And a low credit score doesn't make someone a thief, regardless; in this country, people are more likely to have bad credit for medical reasons than for running up a bunch of credit card debt they can't afford. A credit score is basically meaningless for assessing how someone will behave as an employee.
 
Warren is right, of course. People who have survived extended economic hardship are likely to have credit problems.

I hope that doesn't come as a shock to anybody. That's the way it works. Credit checking HR types generally work hardest at making their own job easier, and adding superfluous requirements bothers them not at all.

What it does is further diminish the chances of the people who've been out of work for the longest. Kick 'em when they're down. I mean, they're down, right? That means they deserve it, obviously!

Our system has always been geared towards responding to short periods of unemployment in a market where jobs are relatively plentiful. It was never intended to deal with this lesser depression & permanent job loss. The bill attempts to level the playing field a bit for people who've been hit harder & out of work longer, and it's damned hard for me to find fault with that.
 
Jhhnn said:
Warren is right, of course. People who have survived extended economic hardship are likely to have credit problems.

I hope that doesn't come as a shock to anybody. That's the way it works. Credit checking HR types generally work hardest at making their own job easier, and adding superfluous requirements bothers them not at all.

What it does is further diminish the chances of the people who've been out of work for the longest. Kick 'em when they're down. I mean, they're down, right? That means they deserve it, obviously!

Our system has always been geared towards responding to short periods of unemployment in a market where jobs are relatively plentiful. It was never intended to deal with this lesser depression & permanent job loss. The bill attempts to level the playing field a bit for people who've been hit harder & out of work longer, and it's damned hard for me to find fault with that.
Click to expand...

Warren is wrong. Government has no right to get involved with this since it's a private business.
 
Fern said:
Are you saying the military checks peoples' credit scores?

Edit: Sorry for your troubles. And not sure why a credit score is relevant for a nurse, they don't handle money etc.

Fern
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Darn right they do... The poor credit scores were a result of what happened to me and really not derived from her stellar performance and character..
 
Incorruptible said:
Warren is wrong. Government has no right to get involved with this since it's a private business.
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Lol nice trolling 🙂

There are so many laws in place on hiring to begin with its basically just plugging the unintended consequences as they appear.
 
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Incorruptible said:
Warren is wrong. Government has no right to get involved with this since it's a private business.
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Whenever you post, I like to imagine you're some alternate reality "Dorian Gray" and that somewhere there's a picture of you getting smarter. Government has no right to get involved with private business... that's just too dumb to argue with.

Merry Christmas you delightful fool!
 
highland145 said:
How many here, that support the bill, own your business or are materially vested in insuring that you protect the company and it's assets?
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highland145 said:
I would like to know, it's a fiar question. I'm sure I've been guilty of the same thing, "Yeah, that's a great idea." It applies to you..."It sucks balls."

Too bad crap congress does doesn't apply to them a lot of the time.
Click to expand...
Not a single answer? I hope it's because members are off line for the holidays.

SPEAK UP

Otherwise, what good are you? Pushing your ideology?

That works.🙄
 
Hammerman said:
Well, personally it has been a crock of shit in regards to this family... My wife wanted to change up her career and become an Air Force nurse and had to put together an extensive package to present herself and her credentials to the people in charge of it all. The recruiter came back and was simply ecstatic over the stuff she put together calling it the best he has seen in 25 years...
Needless to say, because of my back surgery and resulting paralysis of my legs, I lost my job and income and our credit (most was joint) was ruined.
She was rejected because of the credit score. That was all, nothing else.
What a crock.
Click to expand...
I'm sorry for your problems. No waiver? Most recruiters would kill their 1st born for your wife's enlistment.

Call your congressman. Amazing what they can get done, state and fed. Wife worked for one.
 
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