A commission appointed by the Massachusetts legislature is considering the creating a state Partnership Bank to boost the local economy by increasing community development lending.
We can’t afford to let Wall Street keep taking us for a ride: Americans need a strong Consumer Financial Protection Bureau to bring fairness and accountability to the financial sector.
A median-income, two-earner household will pay nearly $155,000 over the course of their lifetime in 401(k) fees, according to a new analysis by national public policy center Demos.
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'
Without the Consumer Financial Protection Bureau, lenders preying on communities of color would continue to pull in windfall gains, while widening the racial wealth gap and undermining the precarious financial stability of vulnerable households.
The Congressional Black Caucus budget should be implemented because it calls for racial equity in future infrastructure and investments; improving public transit infrastructure, noting that people of color are heavy users of it; and school infrastructure, saying that modernized buildings held reduce achievements gaps.
Even before the Equifax breach, the integrity of credit reports was murky at best. A Federal Trade Commission report found that as many as one in five consumers had a credit error from one of the top reporting agencies (Equifax, Experian, and TransUnion). But the fundamental problem isn’t data integrity—it’s economic justice. According to a survey by the think tank Demos, declining credit was associated more with misfortunes and unforeseeable crises than with a lack of financial responsibility.
As we celebrate Occupy Wall Street’s first birthday, the movement's pivoted from financial regulation to focus on crushing consumer debt. While reforming debt is crucial (particularly student debt), finance remains an imminent threat to the American economy. We shouldn't forget it.
The job of reforming Wall Street is far from finished. The most profitable investments for the big banks continue to be Washington lobbyists chipping away at reform and litigators challenging every major rule in court.
Eric Scheiderman is leading a seven state coalition to bring suit against the EPA for failing to address methane emissions from the oil and gas industry -- a violation of the Clean Air Act.
With Jamie Dimon under growing fire from shareholders of JP Morgan Chase, one possibility is that he may relinquish his role as chairman of the board but remain as CEO. That raises an interesting question: Why does Dimon hold both jobs to begin with?