The country has done extremely well without the use of credit checks in deciding who to hire at until the last 10 years or so. Come to think of it, the last 10 years the economy has been rather chaotic...is the current business psychology that also encompasses the use of credit checks on candidates for hire part of the problem?
The decision to use or not use a credit check should be the business, not the government.
24 years ago I had a job where I had access to gold and diamonds. Did not learn until years later when I went to buy my house that my employer was helping themselves to a random check of my credit every couple of months.
I was conflicted. Angry they were going behind my back, but found it hard to blame them when I was responsible for millions of dollars worth of their property.