More and more companies are checking the credit history of job applicants during the hiring process. U.S. Senator Elizabeth Warren wants to change that.
The Massachusetts Democrat says she will introduce a bill that would ban businesses from doing credit checks. She says the practice unfairly targets women, minorities, seniors, students and others with limited financial resources.
“For millions of working families a hard personal blow translates into a hard financial blow that will show up for years in a low credit score,” Warren said.
The bill would amend the Fair Credit Reporting Act to stop employers from requiring or suggesting job applicants disclose their credit history and prohibit employers from disqualifying employees based on a poor credit rating. Jobs that require national security clearance would be exempted.
Business groups and Republican lawmakers who typically oppose more government regulations and restrictions on employers are expected to fight the bill.
What do you think about Senator Warren’s bill? Share your comments below.