Link here: Proposal to prevent credit checks.
Excerpt:
Sen. Elizabeth Warren (D-Mass.) on Tuesday proposed legislation to prevent companies from using a person's credit history ...
Why would we want to ban a company from using all relevant information about a person prior to hiring them? If a credit history is a good indicator of success on a job, this is valuable, and those who are responsible will be rewarded (correctly), and those who aren't will have a tougher time getting jobs (correctly).
If a credit history isn't a good indicator of success on a job, then companies who waste they're time on this will lose profits to other companies.
There are always adverse consequences when you try to interfere with the free market. Senator Warren hasn't figured that out yet. Unfortunately, since she isn't a job creator and appears to have no meaningful interaction with businesses, she probably never will.
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