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 Disparate Impact standard is critical to continued and enhanced opportunity to access fair credit, housing, and homeownership. Demos strongly opposes efforts to undermine this longstanding enforcement tool.
Baltimore’s campaign donors lack diversity across race, gender, and socioeconomic status. The Baltimore Fair Election Fund, designed with equity and community engagement at the forefront, can change that.
Private credit reporting is failing for all of us who must rely on credit reports produced by for-profit companies to navigate financial transactions. For communities of color, credit scores evoke the decades of bank redlining and unequal access to credit whose impact persists to this day.
As part of an effort to reshape rules around debt and lending to reduce racial wealth inequality, we propose establishing a public credit registry to gradually replace the current for-profit credit reporting system.
Today, Demos proposed establishing a public credit registry, housed in the Consumer Financial Protection Bureau, as an essential part of a larger effort to reshape rules around debt and lending in order to reduce racial wealth inequality.