Alpha Consumer

Obama Wants Your Credit Score

By Kimberly Palmer

Posted: November 13, 2008

If you're planning on applying for a job with the incoming Obama administration, be prepared to share your financial records, credit history, and a variety of other personal details. Transition officials want to know almost everything about potential candidates, and that includes their consumer behavior. Also on the list: mortgage specifics, investments, and gifts from relatives in excess of $50.

What do you think -- is it curiosity-gone-mad, or are these legitimate questions for future appointees?

Could Be Discriminatory

I think Obama is just trying to avoid financial scandals but I will admit that it's probably unnecessarily invasive.

Ric of CO @ Nov 17, 2008 16:02:22 PM

Headline

The document attributed to the Obama Transition Foundation does not contain the word "score."

Further, the company providing the consumer reports emphatically states, "ChoicePoint does not offer credit scores for purposes of employment-related background checks and no reputable background screening company or employer uses credit scores as part of the hiring process."

Geg Fisher of OH @ Nov 16, 2008 10:22:02 AM

This could be discriminatory

While I get that a certain level of vetting is important in the hiring process, rejecting applicants because of poor credit scores is sure to have a discriminatory effect on the very people that Obama claims to want to help. Anyone affected by the economic meltdown who has found themselves in foreclosure or unable to make ends meet will be screened out. The impact of this discriminatory treatment will disproportionately affect people of color, single parents, students and recent graduates.

Screening blog posts is also troubling. True, you don't want to hire someone into a sensitive position only to find that they've been spewing hate from some obscure blog but there are many other ways of vetting applicants and weeding out the crackpots. Another troubling question is, how do you decide (and who will decide) what's unacceptable commentary on a blog or other web forum - especially after the heated commentary that was generated by the recent campaign.

I think that vetting criminal records is fine. Credit records and consumer habits should be a complete non-starter.

jordana @ Nov 15, 2008 12:36:44 PM

Add Your Thoughts
About You

advertisement

Alpha Consumer

Alpha Consumer

Kimberly Palmer, senior editor for U.S. News & World Report, writes about how to save money, avoid scams, manage debt, and be a savvy shopper. Send your personal finance questions to her for expert money advice.


Alpha Consumer Podcast iTunes icon

advertisement

Best of Alpha Consumer

When Young People's High Hopes Create Despair

Twenty-somethings trying to replicate their parents' wealth get off track.

Life on $7 a Day

Buying in bulk and planning ahead are among the money-saving techniques.

Can You Afford a Baby?

If you're of a certain age and life stage, then you might be asking yourself: Should I have a baby? First, you may want to consider the costs.

advertisement

Subscribe

U.S. News Digital Weekly

A weekly insider's guide to politics and policy — in a multimedia, digital format. 52 issues for $19.95!

U.S. News & World Report

6 months of U.S. News & World Report's print edition for only $15. Save up to 67% off the cover price!