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(Huffington Post)   Elizabeth Warren wants to get rid of credit checks (yay), not permanently (boo) but you can't use them on job applicants (yay)   (huffingtonpost.com) divider line 383
    More: Cool, Senator Edward M. Kennedy, Congressional Oversight Panel, hardworking families, job applicants, Treasury Secretary Jacob Lew, Massachusetts Senate, credit rating, sound check  
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1597 clicks; posted to Politics » on 18 Dec 2013 at 9:11 AM (31 weeks ago)   |  Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



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2013-12-18 08:36:16 AM
This is a bad idea. Sure, a McRib boiler doesn't need to be checked but bankers? traders? diamond graders?
 
2013-12-18 08:38:50 AM

flucto: This is a bad idea. Sure, a McRib boiler doesn't need to be checked but bankers? traders? diamond graders?


Or instances that require security clearance in government.
 
2013-12-18 08:41:51 AM

IdBeCrazyIf: Or instances that require security clearance in government.


That's probably it. She doesn't want her credit checked. Shouldn't have bought that fake tribal card on a finance plan.
 
2013-12-18 08:44:04 AM

IdBeCrazyIf: flucto: This is a bad idea. Sure, a McRib boiler doesn't need to be checked but bankers? traders? diamond graders?

Or instances that require security clearance in government.


Or for lawyers (many state bars are including credit histories/bankruptcies as part of the "character and fitness" check).

Oh, an subby, are you suggesting credit histories shouldn't be used for the purpose of loaning someone money?
 
2013-12-18 08:46:14 AM
credit scores are also a determining factor in many insurance rates, which is farked up.
 
2013-12-18 08:49:37 AM
Does it come with a free frogurt?
 
2013-12-18 08:53:18 AM

Nabb1: Oh, an subby, are you suggesting credit histories shouldn't be used for the purpose of loaning someone money?


no, actually that's probably the one instance I wouldn't mind credit histories to be used. But what the hell does credit history have to do with getting a job? Actually, I'm curious if this is a bit of foresight since the younger generation is less-inclined to no credit history...or would that fall more under credit score? Whichever. It's either a painfully stupid idea or an incredibly clever one. I shall look to this thread to see evidence to both and a nice, rational conversation.

/who am I kidding :D
 
2013-12-18 08:57:04 AM

doublesecretprobation: credit scores are also a determining factor in many insurance rates, which is farked up.


^ This.  Your credit score should be for determining credit worthiness, not your insurance rates.
 
2013-12-18 08:57:49 AM

somedude210: But what the hell does credit history have to do with getting a job?


One could make the argument that if you are dealing with sensitive information, either personal or financial and this information is worth money in the hands of more nefarious people that you could be influenced by cash under the table to help your less than perfect financial situation.

Its a pretty big red flag if you are going for the various G level security clearances.
 
2013-12-18 08:59:30 AM
Need a job, subby? No credit? Bad credit? You need to see the Special Man! What do you say, Special Man?

i2.photobucket.com

"Let him have it."
 
2013-12-18 09:02:45 AM

IdBeCrazyIf: Its a pretty big red flag if you are going for the various G level security clearances.


very true. But outside of government and financial institutions, how often would this come into play?
 
2013-12-18 09:04:22 AM

somedude210: very true. But outside of government and financial institutions, how often would this come into play?


Any time we're looking for a reason to reject somebody we just plain don't like, without running afoul of various Employment Discrimination laws
 
2013-12-18 09:05:14 AM

somedude210: IdBeCrazyIf: Its a pretty big red flag if you are going for the various G level security clearances.

very true. But outside of government and financial institutions, how often would this come into play?


Lawyers with access to trust accounts. One of the most common disciplinary actions against lawyers arises from lawyers who dip into the trust account for their own use.
 
2013-12-18 09:05:24 AM

BunkoSquad: Any time we're looking for a reason to reject somebody we just plain don't like, without running afoul of various Employment Discrimination laws


eh, fine
 
2013-12-18 09:14:39 AM
Your credit score is how someone knows if you area Job Creating Maker (Profits be unto them) or a Parasite Taker (invest in some bootstraps and less lotto tickets).

Nothing beyond ones control ever makes for a bad or low credit score that isn't easily fixable with the right amount of money.
 
2013-12-18 09:15:43 AM

Nabb1: somedude210: IdBeCrazyIf: Its a pretty big red flag if you are going for the various G level security clearances.

very true. But outside of government and financial institutions, how often would this come into play?

Lawyers with access to trust accounts. One of the most common disciplinary actions against lawyers arises from lawyers who dip into the trust account for their own use.


But a lawyer with a perfect credit score might do that to.
 
2013-12-18 09:16:20 AM
I'm okay with this. We base too much on our frickin credit score.
 
2013-12-18 09:16:46 AM
Where does it say she doesn't want to get rid of employer credit checks permanently?
 
2013-12-18 09:16:55 AM
I think its only fair that a goddamnd bank can decide who gets a job and who does not.   i mean, why shouldn't employers have access to our Banking information.   its their worthless Nation now.


its so...........American.
 
2013-12-18 09:17:11 AM
DNRTFA:

I'd be okay with getting rid of the use of scores. They never give you the whole picture.

The rest of it, however, should be fair game for finance/high security jobs.
 
2013-12-18 09:17:14 AM
Lots of people with loads of student loan debt would prefer this.
 
2013-12-18 09:17:21 AM

IdBeCrazyIf: somedude210: But what the hell does credit history have to do with getting a job?

One could make the argument that if you are dealing with sensitive information, either personal or financial and this information is worth money in the hands of more nefarious people that you could be influenced by cash under the table to help your less than perfect financial situation.

Its a pretty big red flag if you are going for the various G level security clearances.


Or simply if you're in a position to embezzle from the company/customers/stockholders etc.  Credit checks shouldn't be necessary or ALL professions, but in some instances, like where the security of critical information or money is concerned, they're probably a pretty good idea.
 
2013-12-18 09:18:01 AM
Senator Warren proves again that she is a person of many words.
 
2013-12-18 09:18:31 AM
They will load on so many exceptions that this law would have no teeth by the time it passed.
 
2013-12-18 09:18:35 AM

flucto: This is a bad idea. Sure, a McRib boiler doesn't need to be checked but bankers? traders? diamond graders?



bad news.  the burger maker is checked too.  you can't trust him with the Happy Meal if he isn't loved by his bank.  after all, its all about what the bank wants. its called a Plutocracy now.
 
2013-12-18 09:18:47 AM

HMS_Blinkin: IdBeCrazyIf: somedude210: But what the hell does credit history have to do with getting a job?

One could make the argument that if you are dealing with sensitive information, either personal or financial and this information is worth money in the hands of more nefarious people that you could be influenced by cash under the table to help your less than perfect financial situation.

Its a pretty big red flag if you are going for the various G level security clearances.

Or simply if you're in a position to embezzle from the company/customers/stockholders etc.  Credit checks shouldn't be necessary or ALL professions, but in some instances, like where the security of critical information or money is concerned, they're probably a pretty good idea.


But credit checks often don't reflect anything approaching the reality of a person's economic health.
 
2013-12-18 09:19:17 AM
i wonder too if there's any real data out there that supports the theory that bad credit = irresponsible therefore bad employee.  or if it's just a "gut feeling" kinda thing.

i have a relative who made it to the very final stages of becoming a game warden.  he is a Navy CPO and Iraq war vet.  probably one of the best candidates for such a job i have ever met.  he didn't get the job because of a bad credit score, all because he co-signed a student loan for one of his kids who proceeded to default.
 
2013-12-18 09:19:54 AM

somedude210: But what the hell does credit history have to do with getting a job?


I would never hire anyone who needs money.
 
2013-12-18 09:20:03 AM
Credit checks should only be necessary when trustworthiness with money is at issue... i.e. when you are in a position to embezzle.  Any other use just perpetuates this silly equivalence we have in our society with wealth and worthiness.
 
2013-12-18 09:20:34 AM
i never thought of an Employer as being a Creditor.     the only ones who should know your finance info is your bank and your creditors.  period.
 
2013-12-18 09:20:44 AM

flucto: This is a bad idea. Sure, a McRib boiler doesn't need to be checked but bankers? traders? diamond graders?


A lot of jobs that don't need a credit check have them. I get having it for some jobs, but when it's used for anything.  It's along the lines of refusing to hire someone who's unemployed. A dick move. But, right now there aren't enough jobs to go around, so employers are in a position where they get to be total dicks. Employers like it this way, that's why they're not hiring more people. Just working fewer people harder and paying them less.
 
2013-12-18 09:21:41 AM

Clever Neologism: Credit checks should only be necessary when trustworthiness with money is at issue... i.e. when you are in a position to embezzle.  Any other use just perpetuates this silly equivalence we have in our society with wealth and worthiness.



True.   its just another example of who Owns this Nation and its so called 'democratic' government.
 
2013-12-18 09:22:00 AM

doublesecretprobation: i wonder too if there's any real data out there that supports the theory that bad credit = irresponsible therefore bad employee.  or if it's just a "gut feeling" kinda thing.

i have a relative who made it to the very final stages of becoming a game warden.  he is a Navy CPO and Iraq war vet.  probably one of the best candidates for such a job i have ever met.  he didn't get the job because of a bad credit score, all because he co-signed a student loan for one of his kids who proceeded to default.


Exactly. It's completely absurd to say "People with bad credit scores might embezzle" and therefore it's okay to turn them down for jobs based on that.

Credit scores are a collection of meaningless information. I once had a small bank account closed on me for failure to pay because an online service (I think it was Gamefly) was still charging me even though I thought I had cancelled it, and didn't check the bank account because I thought nothing was going in or out of it. I don't know if that effected my credit score, but it's absurd to think that I would embezzle because I took a hit because of that.

The largest reason people go into debt is medical bills and unexpected events, not because they're evil criminals who can't handle moneys.
 
2013-12-18 09:23:10 AM

Rincewind53: But credit checks often don't reflect anything approaching the reality of a person's economic health.


True enough.  I guess I wan't defending credit scores specifically, as much as the notion of checking out a potential employee's financial/debt situation.  I think most people are generally honest (although there are a certain number of sociopaths who will steal even when they don't need it), but being deep enough in debt might push those otherwise honest people to do dishonest things.  Essentially, employers should be able to know if their employees can be bought.
 
2013-12-18 09:23:17 AM

Nabb1: IdBeCrazyIf: flucto: This is a bad idea. Sure, a McRib boiler doesn't need to be checked but bankers? traders? diamond graders?

Or instances that require security clearance in government.

Or for lawyers (many state bars are including credit histories/bankruptcies as part of the "character and fitness" check).

Oh, an subby, are you suggesting credit histories shouldn't be used for the purpose of loaning someone money?


I think subby is suggesting that in some way...

And sure, SOME fields might require a credit check, but only a very select few. The rest should be bullshiat.
 
2013-12-18 09:23:35 AM

Nabb1: IdBeCrazyIf: flucto: This is a bad idea. Sure, a McRib boiler doesn't need to be checked but bankers? traders? diamond graders?

Or instances that require security clearance in government.

Or for lawyers (many state bars are including credit histories/bankruptcies as part of the "character and fitness" check).

Oh, an subby, are you suggesting credit histories shouldn't be used for the purpose of loaning someone money?



since when is an Employer loaning the Employee money??

i always thought of it as the Employee provides his labor, and the Employer compensates him for said labor.


silly me.  i'm in America now.
 
2013-12-18 09:24:20 AM
We run credit checks on our prospective employees as part of their overall background check.  Of course, we're hiring people that will have fiduciary responsibility in our client's firms. In almost 10 years of doing this, we've had TWO come back that needed a second look.

The first one, after talking to the prospect, turned out it was not a big deal.

The second one set off alarm bells. We dug a little deeper and talked to the prospect about it. Follow-up questions revealed a pattern of real troubling behavior and we passed.

They are a useful tool, but only where they make sense.
 
2013-12-18 09:24:24 AM

doublesecretprobation: credit scores are also a determining factor in many insurance rates, which is farked up.



Guess        Who     Owns     The    Insurance   Companies.......................... Banks.

weird, huh??
 
2013-12-18 09:24:36 AM
Since the under employed and long term unemployed have the worst credit scores right now this is a positive first step to getting ppl back to work.

Literally the least we can do.
 
2013-12-18 09:24:47 AM

IdBeCrazyIf: flucto: This is a bad idea. Sure, a McRib boiler doesn't need to be checked but bankers? traders? diamond graders?

Or instances that require security clearance in government.


*googles text of bill*

(3) EXCEPTIONS
.-Notwithstanding the prohibitions set forth in this subsection, and consistent
with the other sections of this Act, an employer may
use a consumer report with respect to a consumer
in the following situations:
''(A) When the consumer applies for, or
currently holds, employment that requires national security clearance.
''(B) When otherwise required by law.
 
2013-12-18 09:25:32 AM

Nabb1: somedude210: IdBeCrazyIf: Its a pretty big red flag if you are going for the various G level security clearances.

very true. But outside of government and financial institutions, how often would this come into play?

Lawyers with access to trust accounts. One of the most common disciplinary actions against lawyers arises from lawyers who dip into the trust account for their own use.


a Lawyer is, by definition,  a crook.

so where is the surprise???
 
2013-12-18 09:26:14 AM

hinten: Senator Warren proves again that she is a person of many words.



smart ones, at that.   Republican.
 
2013-12-18 09:27:11 AM

Wooly Bully: Where does it say she doesn't want to get rid of employer credit checks permanently?


she doesn't.  you've been lied too.  bullshiatted.  imagine that.
 
2013-12-18 09:29:05 AM

pueblonative: IdBeCrazyIf: flucto: This is a bad idea. Sure, a McRib boiler doesn't need to be checked but bankers? traders? diamond graders?

Or instances that require security clearance in government.

*googles text of bill*

(3) EXCEPTIONS
.-Notwithstanding the prohibitions set forth in this subsection, and consistent
with the other sections of this Act, an employer may
use a consumer report with respect to a consumer
in the following situations:
''(A) When the consumer applies for, or
currently holds, employment that requires national security clearance.
''(B) When otherwise required by law.


I'm pretty sure the "independents" who are "concerned" about this understood that there would be an exception clause - but it's so much more stupid, imbecile fun to criticize it as if it would apply to everybody across the board.
 
2013-12-18 09:29:13 AM

Rustico: We run credit checks on our prospective employees as part of their overall background check.  Of course, we're hiring people that will have fiduciary responsibility in our client's firms. In almost 10 years of doing this, we've had TWO come back that needed a second look.

The first one, after talking to the prospect, turned out it was not a big deal.

The second one set off alarm bells. We dug a little deeper and talked to the prospect about it. Follow-up questions revealed a pattern of real troubling behavior and we passed.

They are a useful tool, but only where they make sense.



but you forgot one little detail...................


give a crony capitalist pig an inch and he'll take 10 miles.
 
2013-12-18 09:30:03 AM
Credit scores should be maintained by the government, not by for-profit third party companies
 
2013-12-18 09:30:25 AM
Hey, it's that thread where people talk about how their history of consistently not paying their bills is irrelevant to the probability that they'd be a good employee.
 
2013-12-18 09:31:30 AM

Nabb1: IdBeCrazyIf: flucto: This is a bad idea. Sure, a McRib boiler doesn't need to be checked but bankers? traders? diamond graders?

Or instances that require security clearance in government.

Or for lawyers (many state bars are including credit histories/bankruptcies as part of the "character and fitness" check).

Oh, an subby, are you suggesting credit histories shouldn't be used for the purpose of loaning someone money?


You guys are dumb. None of you have an honest reason why a credit check would help to determine if someone would be a great employee or not. It is an unnecessary intrusion into someones life. We should have a right to privacy from our employers.
 
2013-12-18 09:32:01 AM

HMS_Blinkin: True enough. I guess I wan't defending credit scores specifically, as much as the notion of checking out a potential employee's financial/debt situation. I think most people are generally honest (although there are a certain number of sociopaths who will steal even when they don't need it), but being deep enough in debt might push those otherwise honest people to do dishonest things. Essentially, employers should be able to know if their employees can be bought.


Wouldn't bad credit suggest that--if these guys CAN be bought--they aren't very good at it?
 
2013-12-18 09:32:15 AM
Hey, as long as I can still turn you down for what I find in your Facebook account (or for not having a Facebook account), even though you likely disclose things there I'm not allowed to ask you about, I'm okay with this.
 
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