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Sep 15, 2006 -- Employers buying into credit report hype

Employers are now pulling credit reports on applicants even when someone’s financial picture has nothing to do with the job. If a student just out of college has debt or a late payment shows up on the report, employers are turning applicants away. Now, if you’re planning to work in the financial industry, this might make sense. But Clark thinks employers are doing themselves a terrible disservice by buying into the hype. Credit bureaus are basically convincing companies that it’s necessary to run a credit check on employees to see how organized their finances are. Please! There are so many reasons why credit can go awry. Sometimes it’s because the credit bureau has made a mistake and refuses to fix the error. Clark hopes employers catch on that a person’s credit report rarely reflects on the type of employee he or she will be.

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