When a credit report can hurt your chances of being hired
CNN • • business
Key Points:
- New York has become the 11th state to prohibit employers from using individuals’ credit reports for employment decisions, with the law taking effect on April 18, except for certain job categories such as law enforcement or financial roles.
- Similar laws exist in 10 other states and several cities, with New York’s statute potentially applying nationwide for residents applying to jobs in other states.
- Employers are increasingly reconsidering the necessity of credit checks due to growing restrictions, although credit reports remain permissible for roles involving fiduciary responsibility, national security, or access to sensitive information.
- Negative credit information that may concern employers includes seriously delinquent accounts or debts in collections, but medical debts or student loans are often given little or no weight, especially if
