Councilmember Levine and others are looking to put a stop to credit discrimination amongst hiring companies. Reports suggest that over 60% of nationwide employers examine credit score when looking at perspective employees, despite studies showing no correlation between performance and credit score.
Council Member Mark Levine said:
"Working-class New Yorkers should be hired based on whether they can do the job, not because a frequently mistake-ridden report says whether or not they pay their bills on time. An unforeseen illness or a layoff due to changing economics too often wreak havoc on a reliable employee's credit history. Required credit checks unfairly punish these individuals when we should instead be trying to help them back into the labor force. We must unequivocally ban this harmful practice and not allow any loopholes to be added before it passes."