"Although credit scores never formally take race into account, they draw on data about personal borrowing and payment history that is shaped by generations of discriminatory public policies and corporate practices that limit access to wealth for Black and Latinx families."
Big companies are using data to preserve the power imbalance that keeps them rich. This economic model is rooted in chattel slavery and relies on the extraction and commodification of data.
This Black History Month (and into March), workers at Amazon’s Bessemer, Alabama warehouse have the power to keep making history by voting for their union.
"Black and Latinx borrowers [are] more likely to be denied credit than white borrowers and more likely to be charged higher interest rates [...]. [O]ne of many ways the financial deck is stacked against Black and brown consumers.”
Today, nearly 60 years removed from Dr. Martin Luther King, Jr’s speech during the March on Washington, countless barriers remain between his dream and America’s reality.
An economy that ultimately lives up to our country’s promise will require us to invest in public goods and health infrastructure, break up concentrated economic power, and ensure equitable access for Black and brown communities.
From March through May, New Florida Majority Education Fund surveyed over 21,000 Floridians to ask how the pandemic was affecting their lives and well-being. This report presents our findings from those surveys.
The COVID-19 crisis has cast into stark relief what has always been true: the wealth and prosperity of the U.S. economy rests on the labor, and the lives, of black and brown communities.
Twelve years after starting college, white men have paid off 44% of their student loan balances on average, while black men saw their balances grow by 11%, according to an analysis from Demos.
Twelve years after starting college, the white female borrower has paid off 72% of her loan balance. Over the same time period, the typical Black female borrower's balance has grown by 13%.
Private credit reporting companies should be replaced by a publicly run credit registry that operates in the public interest and that automatically corrects for events like natural disasters and global health crises.
There have been devastating reports of disproportionate rates of death in Black communities as a result of COVID-19. Racial capitalism and structural racism are to blame.
The CARES Act passed fails to meet a simple moral test - that we protect the most vulnerable among us because it largely excludes immigrant and mixed-status families, including their U.S. citizen children, from stimulus payments.
“These are folks who are serving [and] preparing food for all of the rest of us. It's a recipe for contagion when...the people preparing your food cannot afford to stay home when they have a contagious disease.”
"Like in previous moments of crisis, whether it's the Great Depression or the 2008 financial crisis, we will need new governmental bodies to address the public needs at this scale."