The resumption of student loan payments after a three-year break, is likely to deliver a blow to American economic growth, according to economists, in a move that could harm many beyond borrowers alone.
“They collect our data without our permission. They profit from our data. They fail to invest in processes to verify accuracy. And their models are not transparent. This puts Black and Brown consumers at a serious disadvantage.”
The Biden administration should implement its public credit registry proposal to shift power away from an oligopoly that exercises inordinate control over consumers’ financial prospects and towards a fairer system that better respects consumers and reduces racial inequality.
“This is a microcosm of many intra-progressive, intra-left policy debates—whether it’s better to do something universal and achieve something with relative ease or ensure that only those struggling by some definition get relief."
States must now take swift action to design racially equitable voting systems—including dramatically scaling up vote by mail, while also maintaining accessible in-person voting—so communities are not disenfranchised this fall.