Archive for the ‘Government’ Category
AJC blogger counters her U.S. Senator
Speech-making, writing, blogging, stating and yakking adds up to much mush
Last week, the U.S. Senate passed its financial reform bill with an amendment regarding credit score use in employment. Senator Udall from Colorado sold the idea by saying that employers use credit scores. The problem with that is that the consumer reporting agencies say that they don’t [...]
Request for Federal Reserve’s evidence regarding employers using credit scores
From: Greg Fisher
To: Sandra F. Braunstein, Federal Reserve
Subject: credit score, employers, Federal Reserve, 2010-03-24
cc: Michelle A. Smith, Federal Reserve; ConsumerHelp@FederalReserve.gov; Pierce Nelson, Sibyl Slade, Jean Tate, Federal Reserve, Atlanta; Federal Trade Commission Office of Public Affairs; Gerri Willis, CNN; realstories@cnnmoney.com; letters@smartmoney.com; Aleksandra Todorova, Stephanie Auwerter, SmartMoney; Elizabeth Warren; freshair@whyy.org; talkback@whyy.org; frontline@pbs.org; Gosia Wozniacka, The Oregonian; [...]
Legislation uses FICO, not Fake-O, score as benchmark
H. R. 600, the FHA Seller-Financed Downpayment Reform Act of 2009, introduced by “Mr. AL GREEN of Texas (for himself, Ms. WATERS, and Mr. GARY G. MILLER of California)” uses the term “FICO score” 5 times. It is a bill “To revise the requirements for seller-financed downpayments for mortgages for single-family housing insured by the Secretary of [...]
Blogosphere comments on credit scores and employers
A thousand comments based on a premise stated by politicians.
employers and credit scores, Kirwan Institute
From: Greg Fisher
Sent: Monday, March 29, 2010 1:41 PM
To: Jessica Leveen Farr
Subject: credit score, employers, Kirwan Institute
Recently, you wrote, “Landlords may evaluate an individual’s credit prior to renting a home and some employers access credit scores for all new hires.”
Your footnote cites the document, “The Impacts of Foreclosures on Families and Communities: A Primer,” by [...]
Kucinich, DFAS, ABC, employers and credit scores
According to the web site of Congressman Dennis Kucinich (D-OH), employees at a federal agency have been suspended due to low credit scores.
A press release on kucinich.house.gov states, “The bipartisan group requested a suspension of a policy that has resulted in the unjust suspension of employees for reasons such as a low personal credit score until [...]
FHA adds 580 FICO credit score to guidelines
A press release (HUD No.10-016) from the U.S. Housing and Urban Development Department (HUD) Federal Housing Administration (FHA) dated January 20, 2010 is titled, “FHA Announces Policy Changes to Address Risk and Strengthen Finances.”
The release states: “New borrowers will now be required to have a minimum FICO score of 580 to qualify for [...]
credit score, employers, UC Irvine, New University
From: Greg Fisher
Sent: Saturday, October 03, 2009 7:28 AM
To: newu@uci.edu; newuopinion@gmail.com
Subject: credit score, employers, New University
You wrote, “Employers increasingly run credit checks on prospective hires; a high score is seen as an indicator of reliability.”
Who is your source regarding credit score use by employers?
Employer use of credit scores. Equifax reacts.
Equifax:
Yes, they can.
No, we don’t.
Yes, they can.
No, we don’t.
Board asleep.
Credit Scores Used by Employers: Believers
See Credit scores used by employers: Believers and Nonbelievers.
Now, only categorized in the influence > government directory, this topic deserves its own section. FICO, USA Today, the U.S. Treasury Department, Federal Reserve, EEOC and many others communicate a similar message: Watch out— credit scores are used in employment screening. But, when contacted, the various media, government agencies, associations and consumer [...]