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SB 13-018: Concerning the Use of Consumer Credit Information by Employers

SB 13-018: Concerning the Use of Consumer Credit Information by Employers

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SB 13-018: Concerning the Use of Consumer Credit Information by Employers
SB 13-018: Concerning the Use of Consumer Credit Information by Employers

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Published by: Senator Mike Johnston on Jan 28, 2013
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01/28/2013

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DRAFT 1/28/2013 2:17 PM For a complete list of fact sheets, visitwww.mikejohnston.org/in-the-legislature.
Office of Sen. Mike Johnston
Colorado General Assembly | 200 E. Colfax Avenue | Denver, CO 80203 | 303.866.4864
F
ACT
S
HEET
M
EMORANDUM
 
S.B. 13-018
Concerning the Use of Consumer Credit Information by EmployersSen. Ulibarri & Rep. Fischer
Staff Name
: Amanda Levin
What the Bill Does
:There are currently no statutes that protect an employee from his or her credit report being usedadversely by an employer.
1
This bill seeks to
prohibit employers from considering an employee’s
consumer credit information for employment purposes unless the information is substantially jobrelated. If the consumer credit information is substantially job-related, the employer may give theemployee the opportunity to explain any unusual or mitigating circumstances, such as a lay-off ordivorce.
Colorado Context
:Employers are currently allowed to make hiring and termination decisions based on an employee or
applicant for employment’s consumer credit
information.
2
Credit reports are being used morefrequently by employers to evaluate job candidates, with over 60% of employers using them in 2010.
3
 Credit reports are also being used more frequently by utility companies to make sales and pricingdecisions regarding heat and water, by home and car insurers, and by hospitals.
4
 
National Context
:Forty states introduced bills that restrict the use of consumer credit information in employmentdecisions in the 2012 legislative session. There are currently
eight states that limit an employer’s use of 
consumer credit information in employment. These are: California, Connecticut, Hawaii, Illinois,Maryland, Oregon, Vermont, and Washington.
5
 
Bill Provisions
:
 
Prohibits an employer’s use of consumer credit infor
mation for employment purposes if theinformation is unrelated to the job.
 
Requires that an employer disclose to an employee or applicant for employment when the employerplans to use
the employee’s consumer credit info
rmation to take adverse action (which includes
1
C.R.S. § 12-14.3-103.
2
Bureau of Consumer Protection,
Using Consumer Reports: What Employers Need to Know 
, Jan. 2012.http://business.ftc.gov/documents/bus08-using-consumer-reports-what-employers-need-know
3
Demos,
Discrediting America
4
 
Id.
 
5
National Conference of State Legislatures,
Use of Credit Information in Employment 2012 Legislation
, Nov. 16,2012. http://www.ncsl.org/issues-research/banking/use-of-credit-info-in-employ-2012-legis.aspx

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