Jan. 13 (Bloomberg) — Senator Elizabeth Warren is drawing praise from progressives for her legislation that would bar companies from requiring prospective hires to submit to a credit check as a condition of employment.
"This is about basic fairness — let people compete on the merits, not on whether they already have enough money to pay all their bills," said Warren, a Massachusetts Democrat. "A bad credit rating is far more often the result of unexpected medical costs, unemployment, economic downturns or other bad breaks than it is a reflection on an individual's character or abilities."
A few things: First, the credit reports employers see don't even include the score — or "rating," as Warren put it. Rather, they show the credit report itself.
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