Bad Credit Can Mean No Job
More or more job seekers are being turned down for employment based on a bad credit report. The WSJ reports that 47% of employers check credit history for at least some positions. Most do so with respect to jobs with fiduciary or financial responsibility or for senior positions.
Employers can legally check credit if the applicant authorizes them to do so. Employment agencies point out that if the applicant refuses, there is little chance of getting a job.
Credit checks create a vicious cycle that prevents those who most need jobs from getting hired. At least one bill in Congress and some in the state legislatures would restrict credit checks except for specified positions.