Tag Archives: credit checks

Study Finds Bans on Credit Checks by Employers May Lead to More Unemployment for Some Applicants

CreditReport

Written By ESR News Blog Editor Thomas Ahearn

A study of bans on credit checks by employers meant to help job applicants with bad credit find work revealed that people with mid-to-low credit scores, those under 22 years old, and – most surprisingly – African-Americans, were more likely to be unemployed as a result of these laws. Continue reading

Sprint Could Face Lawsuit for Alleged FCRA Violations during Credit Checks

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Written By ESR News Blog Editor Thomas Ahearn

A complaint filed by a Chicago, Illinois man in Cook County Circuit Court claims that Sprint Corp. allegedly violated the federal Fair Credit Reporting Act (FCRA) by using non-compliant disclosure forms before checking the credit of job applicants, according to a report on the Cook County Record website. Continue reading

New York City Businesses Must Comply with New Law Banning Credit Checks by Employers

CreditReport

Written By ESR News Blog Editor Thomas Ahearn

With New York City passing the nation’s strongest ban on employment credit checks that took effect on September 3, 2015, businesses in the Big Apple need all the help they can get to comply with this new law that strictly prohibits most employers from using credit history to decide whether to hire, fire, or promote an individual. Continue reading

CFPB Finds Complaints about Credit Reports Rising Sharply

 CreditReport

Written By ESR News Blog Editor Thomas Ahearn

The Consumer Financial Protection Bureau (CFPB) has released its Monthly Complaint Report that found complaints about credit reports sharply increased compared to the prior month and the prior year. The CFPB Monthly Complaint Report can be found at: http://files.consumerfinance.gov/f/201508_cfpb_monthly-complaint-report-vol-2.pdf. Continue reading

Bill Would Prohibit Employers from Using Credit Reports in Background Checks

 CreditReport

Written By ESR News Blog Editor Thomas Ahearn

Legislation introduced in the U.S. Senate – the “Equal Employment for All Act of 2015” – would amend the federal Fair Credit Reporting Act (FCRA) to prohibit employers from using the credit reports of job applicants and current employees during background checks for employment. The text of the legislation is at http://www.warren.senate.gov/files/documents/Equal_Employment_for_All_Act_of_2015.pdf. Continue reading

Consumer Reporting Fairness Act Would Help Fix Inaccurate Credit Reports

 CreditReport

Written By ESR News Blog Editor Thomas Ahearn

Legislation introduced in the U.S. Senate – S. 1773 – the “Consumer Reporting Fairness Act of 2015” – would require creditors to inform consumer reporting agencies (CRAs) that certain debts have been discharged in bankruptcy cases, making it easier for consumers who rid themselves of credit card debt to fix inaccurate credit reports that do not reflect a clean financial slate. The text of S. 1773 is available at https://www.congress.gov/bill/114th-congress/senate-bill/1773/text. Continue reading

New York City to Bar Employers from Viewing Credit Reports of Job Seekers

CreditReport

Written By ESR News Blog Editor Thomas Ahearn

The New York City Council is expected to pass a bill – “Stop Credit Discrimination in Employment Act” (Int. No. 261-A) – that will bar employers from viewing the credit reports of job seekers and also prohibit them from asking about credit scores in job interviews, according to an exclusive report from the New York Daily News. (UPDATE: The New York City Council passed a bill that makes it illegal to request or use a job applicant’s credit history in making a hiring decision and bars most employers from checking a job candidate’s credit record. Read the full story.) Continue reading

Credit Reporting Agencies Announce Plan to Improve Credit Report Accuracy

Credit Report Blogs

Written By ESR News Blog Editor Thomas Ahearn

The three leading national Credit Reporting Agencies (CRAs) – Equifax, Experian, and TransUnion – have announced a National Consumer Assistance Plan to improve the collection of complete and accurate consumer information while giving consumers more transparency and improved interaction with credit bureaus about credit reports, according to a joint press release from all three companies. Continue reading

FTC Issues Credit Report Accuracy Study

Credit Report Blogs

Written By ESR News Blog Editor Thomas Ahearn

A follow-up study of credit report accuracy issued by the Federal Trade Commission (FTC) has found that most consumers with previously reported unresolved errors on their credit reports believe that some disputed information on those reports is still inaccurate, according to an FTC press release. The study is available here: Report to Congress Under Section 319 of the Fair and Accurate Credit Transactions Act of 2003. Continue reading

New York City May Ban Credit Checks by Employers

Credit Report Blogs

Written By ESR News Blog Editor Thomas Ahearn

New York City Council members are considering legislation – Introductory Bill Number 261 (“Int. No. 261”) – that would amend the administrative code of the city “in relation to prohibiting discrimination based on one’s consumer credit history” and prevent employers from using credit checks in employment decisions. More information about the bill is available here: Int. No. 261. Continue reading