| Would you want to hire an applicant for a CFO | | | | decision while protecting the rights of the applicant. |
| position that has a horrible credit report? Of | | | | FICO scores never appear on a credit report |
| course not, and neither would any employer. | | | | being secured by a background check company, |
| Clearly a company is well within their rights to | | | | because the report is being pulled for employment |
| secure a credit report on a person seeking a | | | | purposes only and not an extension of credit. If |
| financial position. A CFO is the gatekeeper to the | | | | your current background check company is |
| company’s financials. How this applicant runs | | | | providing you FICO scores, guess what? You are |
| their own finances has direct impact on how they | | | | violating the civil rights of the applicant by using |
| may run a company’s financials. The credit | | | | this FICO score to determine if they are better |
| report is germane to the position the person is | | | | than the next applicant. A precedent setting case |
| seeking. | | | | in the State of New York sided with an applicant |
| If you are in any financial position such as a | | | | who was denied a job, because her FICO score |
| cashier, accounts payable/receivable, accountant, | | | | was less than the next candidate. The applicant, |
| CFO, trustee or fiduciary an employer has the | | | | who was a minority in race and gender, lived in an |
| right to secure the credit report, because | | | | undesirable zip code in New York whereby she |
| whether you like it or not, it is germane to the | | | | was not offered the ability to obtain legitimate |
| position. However, an employer should take into | | | | credit, but rather sub-prime credit. The |
| consideration the circumstances which may have | | | | court’s decision was that the applicant was |
| created the credit report. Maybe a divorce, health | | | | discriminated against because she had been |
| issues or a failed business is to blame. However, | | | | disenfranchised by the credit card companies by |
| an employer should be very wary of asking the | | | | the limited or sub-prime offers she had received, |
| reason as not to discriminate, but rather try to | | | | although she was far superior in education and |
| put the pieces of the puzzle together by asking | | | | past employment when compared with her |
| their background checks company to analyze the | | | | co-applicants for the same position. |
| credit report for further details. A competent | | | | As an employer the rule of thumb when securing |
| background check company should be able to | | | | a credit report is, make sure it is germane, |
| provide this in depth analysis at no additional cost. | | | | consider extenuating circumstances, get analysis |
| It takes a seasoned corporate investigator to | | | | from your background check company and never |
| provide analysis on a credit report to give you | | | | ask for a FICO score. |
| the information to help you make an informed | | | | |