Fairness is the best policy. In short, it pays to invest in proper pre-employment verification procedures, however, there are a few things to keep in mind when reviewing or implementing such a policy. As in all things, fairness is best. A bad credit history doesn't necessarily preclude someone from being a good metal worker. And you might run into problems with the EEOC if you made that general assumption.
Consistency is the best policy.
What you do for one, do for all. And be sure all hiring managers do so as well. It could save your company a good deal of money.