The law's sponsor, Representative Jack Franks, hopes employers will recognize that some of his constituents have been forced to make drastic financial choices by the recession. Walking away from a bad mortgage or allowing a credit card account to become delinquent shouldn't prevent an otherwise qualified candidate from receiving a job offer, according to the bill's proponents.
The Fair Credit Reporting Act already prohibits prospective employers from performing credit checks on applicants without specific authorization. However, critics of the practice point out that many applicants gloss over the fine print on many job hunting websites and on electronic job applications. State initiatives to outlaw the practice would still permit credit checks for banking and law enforcement jobs.
About the Author
Joe Taylor Jr. is an internal business consultant for a Fortune 500 company, who writes about finance, culture, and design. He holds a Bachelor of Science in Communications from Ithaca College.