4 Reasons to Restrict Credit Checks in Employment

Credit Reports are Inaccurate

A 2007 Zogby survey reported that 37% of people surveyed found an error on their credit report, and half of these respondents reported that they could not easily fix the mistakes.

Tthe lobbying arm of the credit reporting industry boasts that only 11 percent of consumers that request their credit report file a dispute regarding its accuracy.  However, 11 percent of the roughly 200 million consumers with data files in the US translates into 22 million people whose job prospects could be affected by faulty credit reports.

With such a high level of inaccuracy, credit reports are the wrong tool to use when making hiring decisions.