Tag: employer

Employers, credit score, USA TODAY

To: Kathy Chu, USA TODAY
From: “creditscoring.com” <greg@creditscoring.com>
Subject: credit score, employers
Date: 3/21/09

 

You wrote, “And if scores can drop even if consumers do nothing wrong, they say, it raises the question of whether there’s a flaw in the credit scoring formulas relied upon by the nation’s lenders, insurers, and increasingly employers and landlords.”

Who is your source for the information that, increasingly, employers rely upon credit scoring formulas?

6/18/2009 update:

See “USA Today on employers using credit scores, Part 1 – National newspaper will not identify its source“

Experian on credit scores and employers, 2006

In its November 1, 2006 advice column, Experian wrote: “An employer wouldn’t necessarily receive a credit score with the credit report. That would depend on its policies and procedures.”

In 2007, Experian said: “We do not score for employment reports… If you chose to do that, I think you would be breaking the law.”

In 2008, Experian said, “Experian’s business policy prevents the inclusion of credit scores with an employment report, at Experian called Employment Insight.”

See http://www.creditscoring.com/influence/government/employercreditscorebelievers.html.

Employer hiring decisions, credit scores, and the Federal Reserve III

See the previous email to the Federal Reserve.

To: Partners in Economic and Community Dvelopment, Federal Reserve Bank of Atlanta; Sibyl Slade, regional community development manager, Federal Reserve Bank of Atlanta
From: “creditscoring.com” <greg@creditscoring.com>
Subject: Re: credit score, employers III
Cc:
D. Pierce Nelson, public information officer, Public Affairs Department, Federal Reserve Bank of Atlanta;
Webmaster, Federal Reserve Bank of Atlanta;
Jean Tate, media relations liason, Federal Reserve Bank of Atlanta;
Federal Reserve Consumer Help; 
Dennis P. Lockhart, president and chief executive officer, Federal Reserve Bank of Atlanta;
D. Scott Davis, chairman, Federal Reserve Bank of Atlanta (via email address of Debbie Curtis-Magley, UPS;
Patrick K. Barron, first vice president and chief operating officer, Federal Reserve Bank of Atlanta;
Carol B. Tomé, deputy chairman, Federal Reserve Bank of Atlanta;
Date:  2/26/09

Please reply.

At 12:22 PM 2/17/2009, creditscoring.com wrote:

Please reply.

At 12:34 PM 2/12/2009, creditscoring.com wrote:

You wrote, “The lack of a solid credit score typically influences the cost of credit, vehicle insurance rates, utility deposits and employer hiring decisions.”

See http://creditscoring.com/influence/government/employercreditscorebelievers.html .

Who is your source regarding credit score use by employers?

What is the name of an employer who uses credit scores?

 [Update, 4/18/10:  http://creditscoring.com/influence/… atlanta.html]

Employer hiring decisions, credit scores, and the Federal Reserve II

See the previous email to the Federal Reserve.

To: Partners in Economic and Community Dvelopment, Federal Reserve Bank of Atlanta; Sibyl Slade, regional community development manager, Federal Reserve Bank of Atlanta
Subject: Re: credit score, employers II
Cc: D. Pierce Nelson, public information officer, Public Affairs Department, Federal Reserve Bank of Atlanta
Date:  2/17/09

Please reply.

At 12:34 PM 2/12/2009, creditscoring.com wrote:

You wrote, “The lack of a solid credit score typically influences the cost of credit, vehicle insurance rates, utility deposits and employer hiring decisions.”

See http://creditscoring.com/influence/government/employercreditscorebelievers.html .

Who is your source regarding credit score use by employers?

What is the name of an employer who uses credit scores?

Employer hiring decisions, credit scores, and the Federal Reserve

The Federal Reserve Bank of Atlanta periodical publication “Partners in Community and Economic Development” (Vol. 18, No. 2, 2008) contains an article titled “New FICO Model Changes Approaches to Consumer Credit.”

Here is the initial email to the U.S. central bank:

 

To: Partners in Economic and Community Dvelopment, Federal Reserve Bank of Atlanta; Sibyl Slade, regional community development manager, Federal Reserve Bank of Atlanta
Subject: credit score, employers
Date:  2/12/09

You wrote, “The lack of a solid credit score typically influences the cost of credit, vehicle insurance rates, utility deposits and employer hiring decisions.”

See http://creditscoring.com/influence/government/employercreditscorebelievers.html .

Who is your source regarding credit score use by employers?

What is the name of an employer who uses credit scores?

 See the next email to the Federal Reserve.