It appears that something really fascinating is happening on the credit report front– and I’m not talking about the insane amounts of press that the recent credit reporting-errors study is getting. I’m talking about a bill to prohibit companies from checking job applicants’ credit reports as part of their interview. (The exception is if their potential job would require them to work with the company’s finances.) This is a bill that is being worked on presently in Colorado, and it’s a pretty big deal, I think. The discussions behind the launch of the bill came about because Senator Jesse Ulibarri felt that too many people were being rejected after applying for jobs due to issues on their credit report, many of them reflecting things like divorce, loss of a job, and medical emergencies. He didn’t think it was fair that these people who desperately needed jobs, and have been dealt a bad hand, should pay for it because they didn’t have perfect credit. Check out this story in the Denver Business Journal by Ed Sealover for more details about this pretty revolutionary step:
“Never has the Colorado Association of Commerce and Industry (CACI) seemed to wield so much power with legislative Democrats — especially when it doesn’t actually take a stance on a bill.
The Colorado Senate gave preliminary approval Monday to Senate Bill 18, sponsored by Sen. Jesse Ulibarri, D-Commerce City, which would limit employers’ ability to use credit checks as a tool in weighing the merits of job applicants.”
Click here to read the rest of Sealover’s article about this interesting new Colorado bill.
We’re still awaiting an official decision, but the Colorado Senate gave preliminary approval last Monday, so that’s a pretty good sign that this thing will go through if you ask me. Keep your ears open for updates on this one, people– this could be a game-changer, a catalyst for other states to pass such a law all over the country!