California Labor Code 1024.5 makes it illegal to withdraw a job offer due to a prospective employee's credit. However, there is an exception if the employer is subject to the Gramm Leach Biley Act.
Would a MM bank such as Jefferies/Robert Baird/Piper Jaffray etc. be legally allowed to check your credit and rescind a job offer? I don't believe these firms are covered by Gramm Leach Biley, because they do not have retail banks.
Can anyone that has received a job offer at a MM in California let me know if the had their credit checked after receiving an offer? Thank you.
