Category: Experts

credit score, employers, Connecticut SB 361, CBIA

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From: Greg Fisher 
Sent: Friday, April 15, 2011
To: Kia Murrell, assistant counsel, Connecticut Business & Industry Association
Cc: Martin Looney, state Senator, Majority Leader, Connecticut; Martin Looney, state Senator, Majority Leader, Connecticut (press aide email address); Matthew Lesser, state Representative, Connecticut; Robert Hiltonsmith, policy analyst, Demos; Timothy k. Rusch, director of Communications, Demos; Amelia Warren Tyagi, board chair, Demos; Miles Rapoport, president, Demos; Lori J. Pelletier, secretary-treasurer, Connecticut AFL-CIO; John Olsen, president, AFL-CIO, Connecticut; Sarah Poriss, attorney at law; Edith Prague, state Senator, chair, Labor & Public Employees, Connecticut; Edith Prague, state Senator, chair, Labor & Public Employees, Connecticut (press aide email address)
Subject: RE: credit score, employers, Connecticut SB 361, Connecticut Business & Industry Association (CBIA)

See this message and your response at https://blog.creditscoring.com/?tag=connecticut-sb-361.

In testifying, you engaged in this exchange:

SENATOR [Edith] PRAGUE: So, Kia, when somebody gets a background check on a prospective employee, if they ask for a criminal background check that’s all they get is a criminal background check, or they get the whole package, the criminal background check and the credit score.

KIA MURRELL: It depends on who that employer is and how that employer is conducting his background.

SENATOR PRAGUE: So it can vary.

KIA MURRELL: It can vary a lot.

What indicates that background checks on prospective employees include credit scores?

—
Greg Fisher
The Credit Scoring Site
creditscoring.com
PO Box 342
Dayton, Ohio  45409-0342

[attached: copy of previous messages]

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credit score, employers, Connecticut SB 361; Sarah Poriss, Attorney at Law, LLC

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From: Greg Fisher 
Sent: Thursday, April 14, 2011
To: Sarah Poriss, attorney at law
Cc: Martin Looney, state Senator, Majority Leader, Connecticut; Martin Looney, state Senator, Majority Leader, Connecticut (press aide email address); Matthew Lesser, state Representative, Connecticut; Robert Hiltonsmith, policy analyst, Demos; Timothy k. Rusch, director of Communications, Demos; Amelia Warren Tyagi, board chair, Demos; Miles Rapoport, president, Demos; Lori J. Pelletier, secretary-treasurer, Connecticut AFL-CIO; John Olsen, president, AFL-CIO, Connecticut
Subject: RE: credit score, employers, Connecticut SB 361; Sarah Poriss, Attorney at Law, LLC

See this message and your response at https://blog.creditscoring.com/?tag=connecticut-sb-361.

You testified, “I support this bill because credit reports and credit scores are just not accurate indicators of work ethic, they frustrate the already financially challenged job seeker, and prevent employers from finding the right person for the job.”

What indicates that credit scores influence employers’ hiring decisions?

—
Greg Fisher
The Credit Scoring Site
creditscoring.com
PO Box 342
Dayton, Ohio  45409-0342

[attached: copy of previous messages]

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credit score, employers, Connecticut SB 361, AFL-CIO

[PREVIOUS MESSAGE]

From: Greg Fisher
Sent: Wednesday, April 13, 2011
To: Lori J. Pelletier, secretary-treasurer, Connecticut AFL-CIO
Cc: Martin Looney, state Senator, Majority Leader, Connecticut; Martin Looney, state Senator, Majority Leader, Connecticut (press aide email address); Matthew Lesser, state Representative, Connecticut; Robert Hiltonsmith, policy analyst, Demos; Timothy k. Rusch, director of Communications, Demos; Amelia Warren Tyagi, board chair, Demos
Subject: RE: credit score, employers, Connecticut SB 361, AFL-CIO

See this message and your response at https://blog.creditscoring.com/?tag=connecticut-sb-361.

You testified, “If employers are allowed to continue using credit scores in hiring decisions, many hard-working people will be unfairly penalized.”

What indicates that employers use credit scores?

—
Greg Fisher
The Credit Scoring Site
creditscoring.com
PO Box 342
Dayton, Ohio  45409-0342

[attached: copy of previous message]

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credit score employers myth, Consumerism Commentary

From: Greg Fisher
Sent: Tuesday, April 05, 2011
To: Luke Landes, founder, author, and CEO, Consumerism Commentary
Subject: credit score employers myth, Consumerism Commentary

See this message and your reply at https://blog.creditscoring.com/?p=1948.

You wrote, “FICO and FICO 08 are the most popular credit scores, but when lenders, landlords, employers, and anyone else checking your credit researches your score, they could be looking at any one of a number of scores.”

Who is your source regarding credit score use by employers?

—
Greg Fisher
The Credit Scoring Site
creditscoring.com
PO Box 342
Dayton, Ohio 45409-0342

Employers credit score Catch-22 myth, Washington Post Company

From: Greg Fisher
Sent: Friday, March 25, 2011
To: Allan Lichtman, professor, Department of History, American University
Cc: Meredith Hooker, managing editor for Internet, The Gazette; Ken Weiss, editor, Gazette of Politics and Business (weekend edition); Jeff Allanach, editor, Frederick County newsroom, The Gazette; David B. Simon, managing editor, Montgomery County newsroom, The Gazette; Vanessa Harrington, editor, Prince George’s County newsroom, The Gazette; The Washington Post Company
Subject: credit score, employers, The Gazette, The Washington Post Company, 2011-03-25

You wrote, “The American people are well aware of the problem of using credit scores for employment decisions.”

Who is your source regarding credit score use by employers?

See this message and your reply at https://blog.creditscoring.com/?cat=myth-2.

—
Greg Fisher
The Credit Scoring Site
creditscoring.com
PO Box 342
Dayton, Ohio  45409-0342

Zillow and SF Chronicle believe Fed credit score info

Consumer reporting agencies TransUnion, Equifax and Experian all emphatically state that they do not provide credit scores for employment purposes.

Despite that, again, the Federal Reserve claims that credit scores are, indeed, used in employment.  Zillow and the San Francisco Chronicle believe it.

The first sentence of a Federal Reserve Bank of Cleveland commentary states, “Credit scores are used in nearly every part of our lives, from applications for car loans, mortgages, credit cards, and car insurance to even some hiring decisions.”


Dave Ramsey on employers and credit scores


The three national consumer reporting agencies all state that they do not provide credit scores for employment screening.

From: Greg Fisher
Sent: Tuesday, November 23, 2010 6:46 PM
To: Dave Ramsey
Subject: FW: credit score, employers, Dave Ramsey, Dave Says

You wrote, “I wouldn’t want to work for a company that puts more emphasis on my FICO score than on me as a person… there are so many ways to make a living in this world that there’s no reason to put up with being reduced to a number like that.”

Who is your source regarding credit score use by employers?

—
Greg Fisher
The Credit Scoring Site
creditscoring.com
PO Box 342
Dayton, Ohio  45409-0342

______________________________

From: Greg Fisher 
Sent: Sunday, November 28, 2010 12:04 AM
To: Dave Ramsey; Dave Ramsey
Subject: RE: credit score, employers, Dave Ramsey, Dave Says II

Please reply.

______________________________

From: Greg Fisher
Sent: Monday, November 29, 2010 10:22 PM
To: Dave Ramsey; Dave Ramsey; Dave Ramsey
Subject: RE: credit score, employers, Dave Ramsey, Dave Says III

Please reply.

______________________________

See

http://www.foxbusiness.com/personal-finance/2010/11/23/potential-employers-check-credit-score/

 http://www.cbn.com/finance/ramsey111610.aspx

http://www.thehawkeye.com/story/Dave-says-112110

http://www.thekansan.com/newsnow/x794473925/Advice-on-engagement-ring

http://www.decaturdaily.com/stories/A-ring-on-her-finger-doesnt-have-to-cost-an-arm,71508

http://www.independentmail.com/news/2010/nov/21/dave-says-guidelines-purchasing-engagement-ring/

http://www.sj-r.com/business/x1892561430/Dave-Ramsey-Personal-Finance

http://www.knoxnews.com/news/2010/nov/22/spend-one-months-salary-on-engagement-ring/?partner=RSS

Experian – Contradictory statements about credit scores and employers

Experian states, “More employers than ever are checking the credit scores of potential applicants, and that could create a vicious cycle, according to a report from the Minneapolis Examiner.”

The title and headline accompanying the statement is “More Employers Check Applicants’ Credit Scores.”

However, Experian claims that it does not provide credit scores for employment purposes.

Influence: Equifax botches credit score distribution

On the heels of this week’s other fun with Equifax (“INFORM > ENRICH > EMPOWER“), top consumer finance expert” and Equifax blogger Ilyce Glink cross-promotes another of her myriad projects by linking to a video featuring some muckety-muck identified as an Equifax executive.  And it is a hoot.

On CBS MoneyWatch.com, Glink writes:  “According to FICO’s credit blog, about 18 percent of the population has a FICO credit score between 800 to 850, but the highest credit score I’ve heard of is 830 (feel free to post yours below). A little over 25 percent of the population has a credit score below 600.” [an aside: See creditscoring.com’s “Two and Two: Credit scores fall, AP, Part II”]

However, there is a kink as her hijinx sinks with a link that slinks into a rinky-dink Think Glink video. ;) The executive, some dude named Steve, identified as “President, Equifax Personal Information Solutions” states, “I think less than one percent of the population has more than 800.”  Turn on the camera and watch him go (away).

It is more than a flub:  The startling misinformation is accompanied by the actual words, on-screen, in writing, in your face:  “Less than 1% have 800 or higher.”

Get more Equi-Facts with Steveorino here on the Wild, Wild Web.  And, don’t miss one of the most hilarious moments in live radio.

Equifax expert writes about employers’ inquiries

From: Greg Fisher [mailto:greg@creditaccuracy.com]
Sent: Friday, October 01, 2010 1:54 PM
To: Robin Holland, senior vice president, Global Consumer Services, Equifax; Robin Holland, expert, Equifax
Subject: Equifax expert writes about employers’ inquiries

You wrote:

Hard Inquiry: Any request for a copy of your credit file is an inquiry, but a hard inquiry is the only one that can affect your credit score. A hard inquiry is one in which a bank, a landlord, an employer or a potential employer, a mortgage broker, or another creditor or lender accesses your credit file because of a transaction you have initiated.

However, another person writing on your website writes:

Inquiries that do not affect your credit rating include requests from employers, requests from companies making promotional offers, and your own requests to check your credit. These inquiries are viewable only by you.

Which one of you, really, is an expert?