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%.
"Many of these folks are asking what is the point of voting since politicians all seem to perpetuate a broken system. We need them to see voting as meaningful, and for them to see voting as meaningful they need to, I think, have a real choice."
“Without a doubt, the secret to Democratic victories in the past three years has been women’s leadership. The idea that that wouldn’t translate into the first woman president was heartbreaking for many of us."
“This is a microcosm of many intra-progressive, intra-left policy debates—whether it’s better to do something universal and achieve something with relative ease or ensure that only those struggling by some definition get relief."
American democracy wasn't functioning well for many Americans before this election. Sure, it's working well as it was designed by our all-white, all-male founding fathers — to protect white political power — but it's still failing Black and brown people.
“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 actual dollar amount, it’s hard to put that at a figure that’s enough to help everyone who is struggling. And because of that, I’d err on the side of doing more.”
"Black student debtors "are 16 percent more likely to be in default or seriously delinquent than white student debtors; Latino borrowers are 8 percent more likely."
"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.”
Taifa Smith Butler, joins News NOW on Black Women’s Equal Pay Day to discuss why Black women in America have to work 579 days to earn what a white man does in one year and how companies can work to combat this pay disparity and inequality.
Although the path forward is still uncertain, one thing is clear: There is momentum around voting rights, and Americans across the country are ready for our elected officials to do everything they can to make it easier — not harder — to vote.
"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."
