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False information published by the Dallas Fed, Part 1

Federal Reserve Bank of Dallas document falsely states that employers use credit scores

| By Greg Fisher

FROM: Greg Fisher, greg@truthandfalsity.com
TO: James Hoard
CC: Keven Ellis; Frank Ward; Mike Morath; Media Inquiries, Federal Reserve Bank of St. Louis
DATE: March 27, 2022, 1:19 PM
SUBJECT: credit score, employers, Dallas Fed

Meredith N. Black
Federal Reserve Bank of Dallas

You published false information about credit scores.

In your educational initiative Building Wealth, you state, "Credit scores are used by employers, insurers, potential landlords and banks to assess an individual’s risk level."

See "False information published by the St. Louis Fed, Part 1." Employers do not use credit scores. I looked into it a long, long time ago. According to the consumer reporting company Experian, "It is important to note that employers never get credit scores."




Your counterpart in Cleveland said, "The original version of this paragraph incorrectly included references to the use of credit scores in hiring decisions."

Your counterparts in St. Louis said that they are "correcting this immediately."

Who did you get the information about credit scores and employers from? It is not true.

--
Greg Fisher
Truth and Falsity
truthandfalsity.com
The Credit Scoring Site
creditscoring.com
PO Box 342
Dayton, Ohio 45409-0342
mobile/text 937-681-3224





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