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2005-07-24 14:10:36 by not_just_finance

Companies run them for all office jobs

When credit reports cost upwards of $50 per candidate, the use of credit reports was fairly limited. In the past 5 years, the use of credit reports for all office job applicants has been routine. Since companies now get unlimited access for a monthly or annual retainer fee, they are not reserved merely for "banking or accounting jobs".
Here's a relevant link that discusses a company that provides pre-employment credit reports:

2009-03-23 07:21:04 by Squirine_Berg

CITI banks woes suspiciously convenient

The Gramm-Leach-Bliley Act (GLBA) allowed commercial and investment banks to consolidate. For example, Citibank merged with Travelers Group, an insurance company, and in 1998 formed the conglomerate Citigroup, a corporation combining banking and insurance underwriting services under brands including Smith-Barney, Shearson, Primerica and Travelers Insurance Corporation.
This combination, announced in 1993 and finalized in 1994, would have violated the Glass-Steagall Act and the Bank Holding Company Act by combining insurance and securities companies, if not for a temporary waiver process The law was passed to legalize these mergers on a permanent basis

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