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View Diary: Sen. Warren and 6 others introduce bill barring employers from rejecting job seekers for bad credit (224 comments)

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  •  Accuracy should not be a big problem any more. (1+ / 0-)
    Recommended by:
    Sparhawk
    The best argument in favor of the bill, it seems to me, is relying on credit reports makes assumptions about the accuracy of them.
    But consumers can get, for no cost, their credit reports annually and there are well defined procedures for contesting the accuracy of items on these reports. If someone has inaccurate (vs. just disputed) information on their credit report, I'm not sure I'd want to hire them since they obviously are not very proactive at solving problems.
    •  Well, that's some optimism (0+ / 0-)

      about these "well defined procedures."  I really can't get into the issue further, except to say that's really cute of you to say so.

      Further, this is pretty unrealistic about human psychology, especially since people might not have any reason to know or care if there is in fact a problem.  By that same logic, people might not be sufficiently 'proactive' if falling for any predatory loan scam (why not just calculate compound interest?), or not reading any fine print, when magnifying glasses are only $5.  There are some jobs for which these are good arguments.  I don't want accountants losing money in ponzi schemes, but i think for stacking boxes at a warehouse, we can let it slide.  

      Difficult, difficult, lemon difficult.

      by Loge on Tue Dec 17, 2013 at 03:32:14 PM PST

      [ Parent ]

      •  Why NOT calculate compound interest? (0+ / 0-)

        At some point, individuals have to take responsibility for themselves. Ignorance is not a universal solution.

        Admittedly, our education system has failed - no one should get a high school diploma without basic life skills such as understanding compound interest. Unfortunately, I doubt it's taught in most schools. Obviously, the use of a calculator or other tool to do the computations for a specific test case should be allowed for speed and accuracy.

        Although, I would like to see more regulations that require more transparency in consumer transactions by offering clearer descriptions in standard formats of what the consumer's liabilities and obligations will be. For example, the "it will cost you this much and take you this long to pay off this bill if you make a minimum payment" feature on credit card bills is a significant improvement.

        •  At some point, yes (0+ / 0-)

          Though a bad credit rating is sufficient without not having a job, no?

          Way to ignore the main point, glibertarian.

          Difficult, difficult, lemon difficult.

          by Loge on Tue Dec 17, 2013 at 05:30:15 PM PST

          [ Parent ]

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