New York, NY – Today,as Congressional battles threaten the future of the Consumer Financial Protection Bureau, the national policy center Demos published a new report that shows how failures of the credit reporting system — and the increasing use of the system's credit reports and scores for non-lending purposes — are having outsized and damaging effects on Americans' economic health.
This report reveals the extent of credit information “mission creep,” examines troubling shortcomings in the for-profit credit reporting industry, and recommends common sense steps to reform the credit reporting system.
New York – Today, Demos, a national public policy research and advocacy center that supports fair employment practices, congratulates the Connecticut General Assembly for passing legislation that prohibits employers from using credit reports in employment decisions except in certain circumstances. Demos commends Senate Majority Leader Martin Looney, House Speaker Christopher Donovan and Representative Matthew Lesser for their leadership on this issue. Connecticut is sixth in a growing number of states to ban employment credit checks.
New York, NY – 'Shadow Market' investment products have come under scrutiny following the banking meltdown, but they continue to be aggressively marketed to clients who can least afford the potentially catastrophic losses. Millions of American seniors could see their golden years turn bleak if the poorly regulated derivatives underpinning their investment plans implode, according to "How Safe Are Your Savings? How Complex Derivative Products Imperil Seniors' Retirement Security."
New York – This week, the growing practice of employers screening the credit scores of job applicants was dealt a legal blow after the Court of Common Council of Hartford, Connecticut, passed an ordinance prohibiting the practice as part of the city's employment application and promotion process. The legislation is the first municipal ordinance of its kind in the country.
Demos, a national public policy research and advocacy center that supports fair employment and publishes research hiring practices, celebrates the decision.
How Maine can use deposits of state tax revenue to tilt the economic playing field back toward Main Street businesses, our community banks, and long-term job growth.
A Washington Investment Trust will generate new revenue for Washington, save local governments money, and make our businesses less dependent on the Wall Street banks that have cut back on lending to small businesses and consumers in our state.
A Hawaii Partnership Bank will generate new revenue for Hawaii, save local governments money, and make us less dependent on big offshore banks that are dramatically reshaping life for families and businesses in Hawaii.
A Maryland Partnership Bank will generate new revenue for Maryland, save local governments money, and make our businesses less dependent on the Wall Street banks.
New York, NY — As new unemployment figures show a still-staggering 9 percent of Americans out of work, a new report from the policy center Demos examines the degree that low income American families use credit to weather economic shocks, and draws out the impact of credit card debt on families' long-term financial stability.
NEW YORK, NY – The idea of regulation — of using the institutions of government to set and enforce rules for the world of business — has come under fierce attack. This week, House committees will hold four separate hearings based on the premise that our nation’s economy is chafing under the restraint of excessive regulation and overly powerful regulators.
A picture of the current state of the private retirement system, why this picture bodes ill for the future of retirement in the country, and why that system needs reform.
Social Security remains our nation’s key source of retirement income for most Americans. The program’s overall health is sound and with relatively modest tweaks to the program’s financing, we can strengthen the system for generations to come.
How the Dodd-Frank Wall Street Reform and Consumer Protection Actwill bring greater security to American consumers, investors and Main Street businesses.