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In the media
The Coronavirus Will Ruin Your Credit Score
"To say that people post-crisis, as they try to rebuild their lives, have to carry the impact of this is just another round of disadvantage and discrimination.”
In the current moment, a public credit registry would make it easier to suspend negative reports during a moment of economic crisis. “It could be built into the law,” says Amy Traub of Demos, the architect of the public credit registry concept. “If there’s a local crisis like a hurricane or a national recession, you could require that credit reports are handled differently. In the hands of a private company, they don’t have an interest in doing that.”
And banks, along with senators like Pat Toomey, apparently have even less of an interest in protecting the public from a stain that will tangibly impact them for years through no fault of their own. “To say that people post-crisis, as they try to rebuild their lives, have to carry the impact of this,” says Traub, “is just another round of disadvantage and discrimination.”
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