"Renaissance Thinking About the Issues of Our Day"
Latoya Horton says she was fired from her job as an accountant, not because she did anything wrong, but because her employer checked her credit report and decided her debt-to-credit ratio was too high. Latoya was outraged: "How are you supposed to pay off your student loans if you can't get -- or keep -- a job because of your loans?"
It happens more than you think: Latoya found out that 60% of employers now check employees' credit reports. They often buy them from TransUnion, one of the largest credit reporting companies. TransUnion's chair, Penny Pritzker, even sits on President Obama's jobs panel. She's responsible for spurring job creation, but her company is profiting from a practice that makes it harder for people with debt to find work.
You can help: Latoya started a petition on Change.org demanding that TransUnion stop selling credit reports to employers immediately. If thousands of people sign Latoya's petition, it will shine a national spotlight on what Latoya thinks is an ethically dubious practice, and TransUnion's executives will be forced to respond.