Currently, it is permitted, if not encouraged, for employers to research a job candidates credit history. The prevelant belief is that applicants with bad credit scores are more likely to steal from their employers, even though there is no evidence to suggest that this is actually true.
Elizabeth Warren has joined four other Democratic Senators in sponsoring the Equal Employment for All Act. If passed, the legislation prohibits employers from considering a candidate's credit report in the hiring process.
Previous debt is not a good indicator of whether someone will be a good employee. It's not fair for employers to discriminate against applicants because of their credit. How can someone responsibly get out of debt by getting a job when no one will hire him or her?
We ask Congress to join in passing the Equal Employment for All Act to ensure that Americans are hired on their merits, not their financial history.