3 out of 4 senior households lack the economic security needed to sustain them through their lives, according to new study
New York, NY — Older Americans have experienced huge, negative financial shifts that now make it more difficult to enter retirement with sustainable economic security, a new study finds. Seventy-eight percent of all senior households are financially vulnerable when it comes to their ability to meet essential expenses and cover projected costs over their lifetimes.
Written testimony of Demos President K. Sabeel Rahman before the US House of Representatives Committee on the Judiciary Subcommittee on Antitrust, Commercial and Administrative Law
If we are to survive this crisis—and imagine a more equitable, dynamic economy to come, we must start with a recommitment to the value of universal, inclusive public infrastructure.
Credit reports and scores control access to public goods people need. Yet, in the midst of a global pandemic and economic collapse, remaking the nation’s credit reporting system is not the top concern.
The response to the COVID-19 crisis must include investments in public goods and health infrastructure, breaking up concentrated economic power, and equitable access for Black and brown communities.
“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.
The hardships faced by Amazon’s warehouse employees are well known and now Black workers in Alabama are organizing, challenging power, and leading the efforts to become unionized.
Would Re-establish Key Provisions of the Glass-Steagall Act—Limiting Risk Taking by Commercial Banks, Requiring Investment and Insurance Spin-offs, Ending Era of 'Too Big to Fail'
As Congress Takes Up Sweeping Financial Reform, Report Urges Fundamental Change of Ratings Agency Model
Washington, DC — With the House of Representatives and a key Senate committee poised to vote on sweeping financial industry reforms, a new report by Demos finds that the proposed remedies fail to fully address the problems that led the credit rating agencies to become key enablers of the housing bubble and Wall Street meltdown.
Washington, DC — Today, thousands of Americans are gathering on the streets of Chicago to march against financial service industry excess that has cost the American taxpayers trillions of dollars, destabilized the economy and undermined the stability of millions of US households.
In response to the public outcry against excesses in the financial services industries, dubbed "The Showdown in Chicago", the following statement was issued from Heather McGhee, director of the Washington DC, Office for the public policy and research center Demos:
In the last ten days, the House has passed two much-needed bills for Black and brown people and working people of all backgrounds. The PRO Act, is the most far-reaching reshaping of U.S. labor law in decades. The CREDIT Act would overhaul the nation’s credit reporting system.
