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These bills protect workers from an unfair and harmful practice that threatens their ability to re-enter or remain in the workforce as they struggle back to normal in the wake of the COVID crisis–namely using credit reports to deny workers jobs or promotions, or even terminate them. The use of credit reports in employment decisions…
By now, we are all too familiar with the shocking facts of the Equifax data breach, in which thieves were able to steal the Social Security numbers, dates of birth, and other sensitive information for a mind-boggling 145.5 million Americans. This means half of the US population and nearly three-quarters of the consumers with active…
We oppose the unfettered use of credit histories and support H.R. 3149, for the following reasons: Credit checks in hiring create a fundamental “Catch-22” for job applicants. The use of credit in hiring discriminates against African American and Latino job applicants. Credit history does not predict job performance. Credit reports suffer from unacceptable rates of…
This testimony examines two very different approaches to change the credit reporting system. One approach — that advanced by H.R. 2086 as well as its Senate version S. 2149 — is to removed paid or settled medical debt under $2,500 from credit reports. This approach will tremendously benefit consumers, and indeed is probably the simplest…
For over a decade, consumer advocates have complained of a credit reporting system plagued with preventable errors, and a broken dispute system that utterly fails to conform to requirements of the Fair Credit Reporting Act (FCRA). These complaints have been confirmed by numerous courts, journalists, and now a report from the Consumer Financial Protection Bureau…
Credit reports play a critical role in the economic health and well-being of consumers and their families. A good credit history (and its corollary, a good credit score) enables consumers to obtain credit, and to have that credit be fairly priced. Credit reports are also used by other important decisionmakers, such as insurers, landlords, utility…
Read More about Chi Chi Wu's Testimony Regarding "An Overview of the Credit Reporting System"