The job market is tough enough out there without having to worry about a missed payment or two on your Visa ruining your chances of a new job. Thankfully, our Senators have joined 14 others in endorsing the “The Equal Employment for All Act” which will prevent employers from forcing employees to give up their credit history. Blumenthal and Murphy both support the measure with Murphy saying “Your credit history has no bearing on your ability to do your job.”
The sad truth is most of us are just one bad day or two away from being in serious financial trouble. Unforeseen medical bills, student loans, unemployment or any other number of things can lead one from prosperity to homelessness fairly quickly. Employees wages aren’t (and haven’t) been keeping up with inflation and we get less for our money everywhere now. Just look at the increasing cost of groceries to the decreasing size of the offerings.
Most people will probably willingly give up this info because they want a job so it is an unfortunate necessity to have the gov’t step in and tell them to go screw. I don’t know when it happened but at some point employers decided that we are beholden to them outside of the hours we are on the clock. Guess what, we aren’t. My wage buys you my time for the hours we agreed upon. You don’t get to view my credit score, my social media or anything else I deem private and personal. It is bad enough somewhat affordable health insurance is tied to employment. (Can you imagine if your car insurance was treated the same way?)
We need a balance between work and life, and privacy is a big part of that. I am all in when I am on the clock. I have quite a few Employee of the Month/Quarter/Year awards in my history (humble-brag) so I certainly don’t slack but I am for the separation of work and life. This is a good step to take.