Month: June 2011

credit score, employers, WalletPop, Virgins

From: Greg Fisher [mailto:greg@creditscoring.com]
Sent: Friday, June 10, 2011 8:35 AM
To: Mitch Franklin, assistant professor of accounting practice, Whitman School of Management, Syracuse University
Subject: credit score, employers, WalletPop, Virgins

See this message and your response at https://blog.creditscoring.com/?p=2153.

WalletPop.com published:  “But credit scores also factor into insurance rates, and even [“even” was a link to http://www.walletpop.com/photos/credit-score-virgins/3658526/]* potential jobs: employers are increasingly checking scores as part of the application process, Franklin says. ‘People don’t realize how much of an impact their credit score has on their life.’”

What evidence indicates that employers use credit scores?

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

* UPDATE 8/14/13: The link that was under the word “even” above is defunct (and so is WalletPop.com, apparently. Try it: walletpop.com.).  Here is a new link: http://www.dailyfinance.com/photos/credit-score-virgins/#!slide=3658526.

CDIA responds to Gannett regarding credit report accuracy

Gannett’s USA Today editorialized, “Instead of putting its money into better dispute resolution, the industry is more interested in trying to prove that error rates are small.”

In an opposing view, consumer reporting industry trade organization, CDIA, said:  “The end result of PERC’s study is that conjecture and opinions about accuracy have been replaced by empirical data. This is the only independent third-party study ever undertaken.”

However, in 2001, Associated Credit Bureaus (now CDIA) said, “In the only statistically valid study conducted to date, Arthur Andersen concluded that in only two-tenths of one percent of the over 15,000 cases studied, were consumers denied a benefit based on an error in their credit report.”

UPDATE, 7/6/2011

credit score, employers, Connecticut sSB 361 passes Senate

The Connecticut Senate passed sSB 361.

The title says it all:  “AN ACT PREVENTING THE USE OF CREDIT SCORES BY CERTAIN EMPLOYERS IN HIRING DECISIONS.”

One headline reads, “Senate passes bill that prohibits employers from asking new hires about their credit score.”

See Credit scores. Pre-employment screening. Influence: Government.  The national consumer reporting agencies all claim that they do not even provide credit scores for employment screening.

credit score, employers, Connecticut SB 361, HB 5061 (2010), Yale

From: Greg Fisher [mailto:greg@creditscoring.com]
Sent: Tuesday, April 19, 2011 7:57 PM
To: Michael J. Morand, associate vice president of Yale University for New Haven and State Affairs
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); Kia Murrell, assistant counsel, Connecticut Business & Industry Association; Kevin T. Kane, Chief State’s Attorney, Division of Criminal Justice, Connecticut
Subject: RE: credit score, employers, Connecticut SB 361, HB 5061 (2010), Yale

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

You testified, “I write of behalf of Yale University, whose mission includes operations where the use of credit reports in employment decisions is prudent and reasonable.”

Is obtaining credit scores an option provided by your employment screening report supplier?

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

[attached:  copy of previous messages]

credit score, employers, Black Voice News

From: Greg Fisher
Sent: Monday, June 06, 2011 11:05 PM
To: Black Voice News
Subject: credit score, employers, Black Voice News

See this message and your response at https://blog.creditscoring.com/?p=2129.  

You published: “Imagine being unemployed for nine months and finally a job offer comes your way. Great you’re ready to pop the champagne cork. But wait not so fast. First you have to pass a background check. That could mean pulling your credit score.”

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

credit score, employers, Gannett, USA Today, 2011-06-05

From: Greg Fisher [mailto:greg@creditscoring.com]
Sent: Monday, June 06, 2011 7:48 AM
To: Letters, USA Today
Cc: Robin Pence, VP, corporate communications, Gannett Co., Inc.; Brent Jones, standards editor, USA Today, Gannett
Subject: credit score, employers, Gannett, USA Today, 2011-06-05

See this message and your response at https://blog.creditscoring.com/?p=2125 and https://blog.creditscoring.com/?tag=gannett .

Yesterday, you published, “Credit scores can determine whether you get a mortgage and what the rate is; whether you qualify for a car loan, a credit card, a rental apartment or insurance; and, in recent years, even whether you get a job.”

However, in another story, you reported:  “When employers request information from the credit-reporting agencies, they get a report designed for employers or companies that screen employees. They don’t get the same report provided to lenders. And they don’t get your credit score, the numerical figure lenders use to assess the likelihood you’ll repay a loan, Levin says.”

Further, you also provide a link to a story that states: “In listing the ways that credit scores can be used, I wrote that potential employers look at your credit score to see if you’re under financial stress. Greg Fisher, who runs the website creditscoring.com, called me out on my mistake.”

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
937-681-3224