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Can your employer get a copy of your credit report?
Why Employers Check Credit Reports
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Federal law allows potential and current employers to view a modified version of your credit report for employment purposes such as hiring and promoting. It's estimated that up to 40% of resumes can contain false or tweaked information, so, employers want to insure that what they are getting in an employee is what they were promised. The employer may perform a background check to find out whether actually graduated from the college you said you did or to confirm that you worked at your previous employer(s) during the time stated on your resume or your job application

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The employment report includes much of the information about your loans and credit cards that is listed in your credit report. To protect your financial security and meet equal employment opportunity laws, all employment reports should omit your account numbers, year of birth and spouse references. Employment credit report provides an easy-to-read insight into an applicant's financial responsibility as well as listing any aliases, bankruptcies, liens, judgments, credit cards, loans, mortgages, collections and summaries of the individual's payment patterns. Reports may also contain previous employers and addresses.

Traditionally, the biggest users of credit reports for employment purposes are companies in the defense, chemical, pharmaceutical and financial services industries because of the sensitive positions many of their employees hold. Increasingly, other industries use the reports to serve as a general indicator of an applicant's financial honesty and personal integrity.  An employment report typically is used in addition to application information, references or skills testing to help employers make the best, most objective hiring decision.


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