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; firstname.lastname@example.org; email@example.com; Aleksandra Todorova, Stephanie Auwerter, SmartMoney; Elizabeth Warren; firstname.lastname@example.org; email@example.com; firstname.lastname@example.org; Gosia Wozniacka, The Oregonian; Jennifer Openshaw; PublicAffairs@dobi.state.nj.us; email@example.com; John Peace, Don Robert, Susan Henson, Susan Thomas, Media Relations, Corporate Responsibility, Experian; firstname.lastname@example.org; email@example.com; firstname.lastname@example.org; email@example.com; firstname.lastname@example.org; email@example.com; firstname.lastname@example.org; email@example.com; Barry Paperno, Craig Watts, FICO
See http://www.creditscoring.com/influence/government/federalreserve/employers2009atlanta.html and http://blog.creditscoring.com/?p=1154.
Last month, you stated to congress: “Credit scoring is widely used to evaluate applications for credit, identify prospective borrowers, and manage and price new and existing credit accounts. It is also used to facilitate decisionmaking in other areas including insurance, housing, and employment.”
However, consumer reporting agencies who compile and maintain files on consumers on a nationwide basis state that they do not use credit scores for employment purposes.
What evidence suggests that employers use credit scores?
How many employers use credit scores?
Do you have the identity of one employer who uses credit scores?
The Credit Scoring Site
PO Box 342
Dayton, Ohio 45409-0342