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New Employer Requests Credit Report But NOT...

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dragonsannex

Guest
New Employer States Credit Check Required by LAW???

What is the name of your state?
Arizona

I was hired last week at a mortgage banking office in a non-supervisory position. The employee manual I was given states that credit reports are necessary for employees hired on as management or above. Yet today the office manager told me that Arizona state law requires them to get my credit report, and that she "won't read it, just file it" in case the state auditors check. My credit is bad. This is a very small office of only 6 other employees. Should I sign the consent??? What are the implications of being terminated for bad credit OR for not signing the release??? Should I just refuse and resign?
 
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cbg

I'm a Northern Girl
I have no idea whether Arizona law requires them to obtain a credit report for the banking industry. But whether it is required by law or not, I can tell you that it is VERY common for employees in the banking, finance and accounting industries to be subjected to credit checks.

It's up to you whether you sign the consent or not. But if you do not sign it, you can expect to be fired. There is nothing illegal about their requiring such a check whether it is mandatory under the law or not, if that's what you were hoping to hear.

I don't know what you mean by "implications". There are plenty of industries where they don't care if you have bad credit or not; you just don't happen to be in one of them. If you apply for a job in a non-financial industry for a position where you will not be handling cash or credit information, they're not going to care if you got fired for having bad credit. Assuming you ARE fired for having bad credit - you haven't said anything to suggest that they plan to fire you regardless of what the report says. In fact, they indicated that they weren't even planning to read the report.

You may be getting all upset for nothing.
 
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dragonsannex

Guest
Reply to CBG re: Credit report request by employer

Ah, I see you are from Massachusetts...my home state. I just left there, God knows why...I am aware that banks/financial institutions will most often require credit reports. I got this job from an agency and was under the impression that they were mortgage brokers rather than bankers. The agency told me no credit check was required, or I would not have put myself through this. My question now is why require a credit report if you're not going to read it? Should I get this in writing? I guess to me it doesn't sound logical where their employee handbook states it is not necessary. :confused:

BTW, great paying jobs are hard to come by out here, folks - though housing is half the price. ;)
 

cbg

I'm a Northern Girl
I can tell you what I'd say to an employee who asked to have it in writing that the report wouldn't be read, but you don't want to hear it, trust me.

It's your decision, but in my opinion the path of least resistance and most likely way to retain is to take them at their word and sign the consent. Refusal is a good way to get fired; demanding a written guarantee of non-readability may or may not get you fired but it will NOT put you in a good light with your employer.

Why require a report if you're not going to read it? Well, how about the fact that the state requires it? We've never established that that was not true.
 
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dragonsannex

Guest
Thank you for your advice...I suppose it's a trade-off between waiting for the potential "ax" to fall and maintaining a positive cash flow until it does (or does not). Out on a limb again... :D
 

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