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.
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 – Steve Carbo, Senior Program Director of the Democracy Program, issued the following statement praising the recent passage of California Senate Bill 641.
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."
Washington DC – In an important hearing today on the future of America’s middle class, Democrats on the Senate Health, Education, Labor and Pensions (HELP) Committee made the case for greater public investment, fairer tax policy, and better job creation to stimulate economic growth and support working Americans. Demos, a national public policy research and advocacy center, supports the effort, as families continue to reel from the recession and high unemployment.
New York, NY — Fewer than one in three middle-class families in America is financially secure, and the remaining majority are either borderline or at high risk of falling out of the middle class altogether, according to a new study published this week by Demos and the Institute for Assets and Social Policy (IASP) at Brandeis University.
Today's ruling is a powerful affirmation: the CFPB stands as a fortress against financial predators, especially crucial for communities of color battered by decades of discriminatory banking practices.
"By undermining the power of federal agencies, the Court has supercharged a new battlefield for anti-regulation interests to attack our labor, consumer, and civil rights regulations."
New York, NY — American families are using credit cards to bridge the gaps created by stagnant wages and higher costs of living and balances have grown dramatically since 1989, according to a new report published today by Demos. Borrowing to Make Ends Meet: the Rapid Growth of Credit Card Debt in America documents the disturbing trends in sky-rocketing credit card debt, and also provides detailed data based on age, race and income demographics.
The Whole Home Repairs Campaign illustrates the power of organizing and community-involved decision-making in addressing the state’s ongoing housing crisis
Dēmos releases the Power Scorecard, a groundbreaking state-by-state snapshot of economic, civic, and political conditions that are conducive to building economic and political power for people.
A response to the Trump Administration's closing of the Consumer Financial Protection Bureau (CFPB), an essential way to safeguard consumers against financial injustice.
Washington, DC — Today in the United States, the credit card market is measured on a scale of billions. The amount of debt owed on credit cards in 2005 was $800 billion; $30 billion is how much lenders profit each year. Under the guise of "democratization" the federal government has deregulated the industry over the past 30 years, eliminating caps on interest rates and penalties. Those who can least afford it are paying the price.
New York, NY — Everyday, millions of Americans struggle to find affordable medical care for themselves and their families, often leading to long-delayed treatment of illness and financial ruin. In SICK: The Untold Story of America's Health Care Crisis, and the People Who Pay the Price (HarperCollins; April 10, 2007), journalist and Demos Senior Fellow Jonathan Cohn offers a fascinating, first-hand account of America's failing health care system.
"These cuts to lifesaving safety net programs and critical infrastructure, are not meant to improve the lives of everyday Americans, but instead to subsidize tax giveaways for the wealthiest elite."
