The resumption of student loan payments after a three-year break, set for October 1, is likely to deliver a blow to American economic growth, according to economists, in a move that could harm many beyond borrowers alone.
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.
“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.”
Angela joins Moms Rising CEO Kristin Rowe-Finkbeiner to talk worker power and a new generation of unions, and why a multiracial democracy is essential for a thriving economy.
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.
Written testimony of Demos Associate Director of Policy and Research, Amy Traub before the U.S. House of Representatives Committee on Financial Services
Letter from 31 civil rights, consumer, and community organizations urging the National Association of Insurance Commissioners (NAIC) to issue a recommendation that credit information no longer be used to determine eligibility for, or the cost of, auto or home insurance.
"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."
“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.”