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 Housing and Urban Development under title II of the National Housing Act.”
In March, 2010, Representative Green said, “Thank you very much, and thank for that new term for my vocabulary: Fake-O.” (2:13:58 in the video)
According to the web site of Congressman Dennis Kucinich (D-OH), employees at a federal agency have been suspended due to low credit scores.
Rep. Dennis Kucinich
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 a full review can be conducted.”
The sub-headline is “Employees Suspended Indefinitely for Reasons such as Low Credit Scores.”
The release refers to a letter to the director of the Defense Finance and Accounting Service (DFAS) that was signed by Kucinich and three other Ohio members of the House of Representatives. The letter uses the term “credit rating,” but does not contain the word score.
Consumer reporting agencies Equifax, TransUnion and Experian all state that they do not provide credit scores for employment screening. A day before the Representatives’ letter, TransUnion submitted written testimony to the House Financial Services Committee stating: “We believe it is worth noting that credit scores are not used in connection with employment. TransUnion will not provide any score on a credit report that is obtained for employment purposes.”
A. Troy Marshall is the president of the American Federation of Government Employees (AFGE) – Local 3283. Representative Marcia L. Fudge is a member of the House of Representatives from Ohio’s 11th district. ABC news reports, “Marshall, however, argues that DFAS is making decisions based simply on the credit score” and “Like Fudge, Marshall says he’s not opposed to credit checks in principal, but says he believes the government should take an employees‘ performance and work history into account instead of relying just on a credit score.”
