Adding another concern to a long list of employer headaches, NYC has instituted a ban on using credit checks to screen applicants. The law, sponsored by Councilman Brad Lander, will take effect in 120 days.
Advocates have pressed politicians on the credit check issue with concerns that it unfairly disqualifies law-abiding applicants from potential employment.
However, with job placement having dropped 30% since a living wage commitment was made, the question of what impact additional government interference among employers will do to the labor market in NYC.
Credit checks for law-enforcement personnel, employees with bonding requirements, and certain financial service workers will have some exemptions.
Stay tuned for updates on this legislation and exemption details.