Demos and coalition partners have reached an agreement with the City Council and de Blasio administration to send a bill banning the use of employment credit checks to the City Council floor. In response, President Heather McGhee issued the following statement:
“We are pleased to see progress made in the fight for equal opportunity employment in New York City. Employment credit checks are a catch-22, preventing qualified workers from getting a job just when they really need one most. The biggest drivers of credit problems are job loss and medical emergencies.
New York, NY — Last night, provisions were added to the House of Representatives' 2015 omnibus spending bill which would repeal crucial features of the Dodd-Frank Act.
In response, Demos Senior Fellow Wallace Turbeville issued the following statement:
(New York, New York) – Today the national public policy organization Demos and The National Council of La Raza (NCLR) released a new report that explores the use of credit cards and the impact of debt on Latino households in America.
The housing crash resulted in a tremendous loss of wealth in the Latino community. Households have fewer resources to draw on in times of need.
This report presents new research on the scope of federally-supported employment in the private economy and shows how, using our over 1.3 trillion dollars in federal purchasing, the President of the United States can place over twenty million Americans on a pathway to the middle class.
New York, NY – The national public policy organization Demos has released a new report that examines the underlying reasons why some Americans have credit card debt and finds further evidence that, contrary to popular belief, indebted households are not the product of less responsible spending habits.
NEW YORK, NY—Today, national public policy organization Demos released a new report detailing the impact of state disinvestment in higher education since the beginning of the Great Recession. The report release coincides with the launch of Higher Ed, Not Debt, a campaign with over 60 organizations dedicated to supporting borrowers, addressing unfair lending practices, and reining in soaring costs in higher education.
U.S. Bankruptcy Judge Steven Rhodes rejected a proposal by Detroit’s Emergency Manager Kevyn Orr to pay off a complex financial deal that was originated in 2005 and turned catastrophic for the city during the recession.
Judge Rhodes ordered the city and the banks to renegotiate their settlement which would have paid the banks 75 cents on the dollar. Despite a unanimous city council vote against it, the Emergency Manager is currently pushing the city to enter into another financial deal with Barclays to pay off the swaps termination fees.
NEW YORK — Demos applauds the work of Senator Elizabeth Warren (D-MA) who today introduced The Equal Employment for All Act, legislation that would prohibit the widespread use of personal credit history in employment. The use of employment credit checks is an unjust practice that poses a serious barrier to economic security for many Americans and leads to discriminatory hiring practices against people of color and the long-term unemployed.
WASHINGTON—Today,Senator Elizabeth Warren (D-MA) introduced The Equal Employment for All Act. This legislation would prohibit the widespread use of personal credit history in employment, an unjust practice that poses a serious barrier to economic security for many Americans and leads to discriminatory hiring practices against people of color and the long-term unemployed.
NEW YORK -- In response to the final, approved version of the Volcker Rule, Demos Senior Fellow Wallace Turbeville, aformer investment banker and the author of Demos' recent Volcker Rule explainer and The Detroit Bankruptcy report, released the following statement:
The Volcker Rule is a requirement in the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 that is sometimes referred to as a “mini-Glass-Steagall.”
In the wake of the worst effects of the Great Recession, African Americans, like Americans as a whole, are getting their balance sheets in order and paying down credit card debt. But new research from Demos’ National Survey on Credit Card Debt of Low-and Middle-Income Households finds that African Americans face challenges to their financial security that are unlike those of white households.