A 2013 survey by Demos, a public policy organization that combats inequality, showed that 10 percent of respondents who were unemployed had been informed that they would not be hired because of some facet of their credit history. The same survey indicated that 1 out of every 7 job applicants with “blemished credit histories” had been told they were not hired because of their credit history. [...]
The California legislature is pushing its own ambitious legislation, and is one of several Western states teaming up with Canadian provinces to collaborate on climate solutions. Many now see New York, and the CCPA in particular, as presenting the next opportunity for promising state-level action.
If you’re a senior struggling with credit card debt like Green, you’re not alone. In 2012, for the first time, middle-income households headed by someone over 50 years old carried more credit card debt on average than households of people younger than 50, according to the Demos National Survey on Credit Card Debt conducted with AARP’s Public Policy Institute. Half of those over 50 had medical debt on their credit cards, and a third said they used credit cards to finance daily expenses. [...]
Washington, D.C., is the latest jurisdiction to consider legislation to prevent employers from conducting credit history screens for most job applicants.
Currently 11 states, New York City and Chicago have passed legislation limiting the use of credit checks in the hiring process. The states include California, Colorado, Connecticut, Delaware, Hawaii, Illinois, Maryland, Nevada, Oregon, Vermont and Washington.
Federal deficit hawks in Congress, driven by ideology and the campaign donations of, for lack of a better term, millionaires and billionaires, held yet another hearing last week about the national debt — but U.S. lawmakers continue to ignore the debt that is causing real trouble for the nation.
The debt danger Americans should really worry about comes from credit cards and student loans.[...]
Amid soaring inequality and stagnant wages, consumers in the United States collectively accumulated a stunning $34.4 billion in credit card debt during the second quarter of 2016 alone, according to a new report from the personal finance website WalletHub.
When environmentalists speak of climate change, they often talk of “future generations.” But generations already here are poised to suffer long-term consequences. Climate change will affect millennials drastically—including in their wallets.
Every day, many U.S. families must make the impossible choice of falling into debt to pay for critical medical care or foregoing necessary treatment. In 2014, 64 million people were struggling with medical debt and it is the leading cause of bankruptcy in the United States.
(BOSTON, Mass.)- Today, a broad coalition of consumer, civil rights, labor, and community organizations issued a letter strongly urging members of the U.S. House of Representatives to support of H.R. 5282, the Comprehensive Consumer Credit Reporting Reform Act of 2016, introduced today by Congresswoman Maxine Waters.
Over the last decade, an increasing number of cities and states passed laws limiting the use of credit checks in hiring, promotion, and firing. These laws have been motivated by the reality that personal credit history is not relevant to employment and that employment credit checks prevent otherwise qualified workers with flawed credit from finding jobs, and that unemployed workers and historically disadvantaged groups, including people of color, are disproportionately harmed by credit checks.
Consumer advocacy groups have long complained that there is no link between bad credit and job performance. They argue that such checks lead to discriminatory hiring.
The system is profitable but imperfect, and for decades critics have attacked it for all sorts of offenses. In 1969, Columbia University legal scholar Alan Westin testified to Congress that the companies violated Americans’ right to privacy and that their inaccuracies damaged lives.
In the 2016 presidential election, we are approaching a singular and momentous crossroads in our nation’s history. Will we, or will we not, make a serious effort to achieve a low-carbon future for our children and our planet? The fossil fuel magnates and the GOP say no, because we can’t or shouldn’t, but more than 75 percent of Americans want our leaders to take significant steps to fight climate change, according to a poll released in January 2015 by the New York Times, Stanford University, and Resources for the Future.
Millennials have an average credit score of 625 (based on the Experian VantageScore 3.0 credit score), compared to 650 for Generation X and 709 for those over 50 years old. They also use an average of 43 percent of their credit limits—compared to 34 percent nationally—and their average debt (excluding mortgages) totals 77 percent of their income, compared to 49 percent nationally.
While income is distributed unequally in the country, what few people know is how much more unequally wealth, financial assets and inheritances are distributed.
The rationale behind the ban is simple: it’s unfair and useless to use a person’s credit history, which is often inaccurate or misleading, when assessing their job qualifications.
"You are in a Catch-22," said Emmanuel Caicedo, a senior campaign strategist with Demos, one member of a coalition of 79 labor and civil rights organizations that formed the NYC Coalition to Stop Credit Checks in Employment.
"You can't pay your bills and so your credit is bad. And then you can't get a job to pay your bills because of your credit."