The New York City Council recently introduced a bill that would ban companies from considering the credit history of job applicants when making hiring decisions, reported Crain's New York Business.
At rally on the steps of City Hall Thursday, the bill's sponsors say credit bureaus currently are wielding a disproportionate amount of power over the unemployed.
Advocates of the bill also add, the legislation would end a "deeply discriminatory" practice of denying employment based on poor credit scores.
"There is simply no evidence of any correlation between peoples' credit history and their job performance," said Brooklyn City Councilman Brad Lander, who co-sponsored the bill. "None."
A similar bill was introduced during Bloomberg's administration but went nowhere. Legislators have reintroduced the bill in hopes it will have a better chance of passing under the new mayor's administration.
Ten other states have similar laws on the books. Even President Barack Obama has spoken in support of banning the use of credit checks in hiring.
