New York City Bans Credit Checks In Hiring, A Boost For Many Minority Job Seekers
Credit checks can keep a lot of qualified people out of the running for certain jobs just for having poor personal credit. But this will change in New York City. The City Council there has just passed a bill that will ban companies from running credit checks on potential employees.
It was a 47-to-3 vote and according to supporters of the bill, the new measure would stop a practice that disproportionately affects the ability of Blacks and Hispanics to get jobs.
“How can you change your credit, improve your credit and have a better life without employment?” Shelly Martin, a Harlem entrepreneur who has become a spokeswoman for the local movement, told The New York Times.
Mayor Bill de Blasio is expected to sign the final bill, which does include about a dozen exemptions, such as police officers, workers who must have security clearances under state and federal law, and employees who have signatory authority over third-party assets worth $10,000 or more.
Currently there are 10 states and the city of Chicago that have banned employer credit checks.