Credit

The CFPB released a report this week that should serve as a reminder of what a functional Congress could accomplish. The report highlights the ways in which the 2009 Credit CARD Act has succeeded. Their findings: Late fees must be be reasonable and proportional to the violation of account terms,...
10/04/2013
Blog
A new report from the National Consumer Law Center (NCLC) is advocating a 36 percent interest cap rate that would alleviate the personal debt crisis in the United States. Such a move is long overdue. The deregulation of the credit industry, which began in 1978 with Marquette National Banks of...
04/15/2013
Blog
“It's just dumb to approach retirement with a bunch of credit-card debt.”  That’s the response of one personal finance expert to a recent Demos study on older Americans and credit card debt. My research found that among low- and middle-income Americans carrying credit card...
02/21/2013
Blog
What would you do if you were laid off from a job? While you looked for a new position, you’d likely cut expenses as much as possible and begin drawing on any savings you have to pay the bills you can’t avoid. As time went on, you might turn to family, friends, and community...
12/20/2012
Blog
The home mortgage crisis and Great Recession destroyed a generation of economic progress for African-American families. Now, reports the Washington Post, the discriminatory impact of credit scores and reports could cement the disadvantages into place for decades to come. To be clear, there’s...
07/09/2012
Blog
In its May 2012 Plastic Safety Net survey, research and advocacy company Demos surveyed 997 low- and middle-income American households that carried credit card debt for three months or more — and looked at how the recession and the Credit CARD Act of 2009 have affected...
06/22/2012
News/Resource
It’s easy to get in over your head when it comes to credit-card debt, and retirees are no exception. According to New York-based research group Demos, those 65 and older from low- and middle-income households carried average credit card debt of $9,283 in 2012, the highest debt load of any age group...
06/12/2012
News/Resource
But here's the fact that convinced me older Americans need more help managing their debt than new college grads: The age range of low- and middle-income Americans with the highest credit-card debt today is 65 and older — they owe an average of $9,283. By comparison, 18- to 24-year olds average just...
06/01/2012
News/Resource
Demos welcomes the opportunity to submit comments to the Consumer Financial Protection Bureau’s Notice and Request for Comment concerning the Bureau’s definition of larger consumer reporting agencies (CRAs) that will be subject to the CFPB’s supervision. We strongly support supervision of the...
04/18/2012
Publication
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