Illinois governor: Employers use credit score
The national consumer reporting agencies all state that they do not provide credit scores for employment purposes. In spite of that, as Governor Pat Quinn of Illinois signed a bill into law, he used the word “score” twice. State Senator Don Harmon piled on. Quinn (2:23): “… will not allow employers to use credit [...]
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 [...]
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 [...]
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 [...]