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 For the People Act outlines a vision of what’s possible when our nation lives up to its promise of being a place where all people can lift their voices via their votes and their small dollar contributions.
The Economic Democracy Project aims to highlight and develop strategies that Black and brown communities can use to build economic and political power—beginning with four case studies spotlighting community campaigns across the U.S.
“The government has not asked questions of the banks for this latest bailout—protecting the priorities of banks and shareholders. But for the rest of us, not so much.”
Chief of Programs at Demos, Angela Hanks on Black employment in this jobs report, wage growth, and the Fed rate hike - what damage that could do to the economy.
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.
The Volcker Rule is a requirement in the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 that is sometimes referred to as a “mini-Glass-Steagall.”
The Financial Infrastructure Exchange (FIX) is a federal tax-and-subsidy program to promote long-term investment in a financial system that otherwise prioritizes short-term gains.
