"Right now the Internet and Internet dating sites have a number of criminals, married people also on the site. So we began to screen, doing background searches, to determine a person may have had a felony conviction and also whether or not they may be married. And we have found that about 5 percent of our applicants have had felony convictions, so we reject them."
Vest, who started True.com at the beginning of last year after selling a financial planning business to Wells Fargo, acknowledges that some undesirables may slip through…
"It is not a 100 percent fool proof system by any means, so we publish on our site, the limitations of a background search."
Still, he believes the checks are worthwhile, and he has been pushing lawmakers in a variety of states, including Texas and Florida to require them. Bloomberg Boot Camp, I'm Fred Fishkin.