AMY TRAUB: I found this very surprising. And I immediately wondered, on what basis is a credit report being sought here? And I found that it's really not on any basis. There's no evidence that the credit report will tell a prospective employer anything.
After two years of working in a temporary job as customer-service representative, Debra Banks was offered the job permanently. She was sent a hire letter, set a start date, and confirmed her new salary. But there was a hitch: To get the job, Banks had to undergo a credit check.
Robert Kuttner, author of "Debtors' Prison" and co-founder of American Prospect magazine, says "so many people are making money" in today's stock market "that nobody dares dampen that down." Kuttner talks with Bloomberg's Tom Keene and Michael McKee on
With student loan interest rates set to jump from 3.4 to 6.8 percent in July, Tamara Draut, Vice President of Policy & Research at Demos, discusses Senator Warren’s proposed legislation with Charles Showalter of The Union Edge, Labor's Talk Radio.
Demos Senior Policy Analyst Amy Traubspoke with Garland Robinette about American seniors' struggle with mounting debt. The average is $50,000, up 80% in less than a decade. This is not a sustainable trend.
Demos Senior Policy Analyst Amy Traub joins Carl Wolfson to highlight our research into employment credit checks and explains how Senator Warren's Equal Employment for All Act could rectify employers' misuse of these checks.
New York, NY – Today,as Congressional battles threaten the future of the Consumer Financial Protection Bureau, the national policy center Demos published a new report that shows how failures of the credit reporting system — and the increasing use of the system's credit reports and scores for non-lending purposes — are having outsized and damaging effects on Americans' economic health.
Download the report "Discrediting America"
New York – Today, Demos, a national public policy research and advocacy center that supports fair employment practices, congratulates the Connecticut General Assembly for passing legislation that prohibits employers from using credit reports in employment decisions except in certain circumstances. Demos commends Senate Majority Leader Martin Looney, House Speaker Christopher Donovan and Representative Matthew Lesser for their leadership on this issue. Connecticut is sixth in a growing number of states to ban employment credit checks.
New York – This week, the growing practice of employers screening the credit scores of job applicants was dealt a legal blow after the Court of Common Council of Hartford, Connecticut, passed an ordinance prohibiting the practice as part of the city's employment application and promotion process. The legislation is the first municipal ordinance of its kind in the country.
Demos, a national public policy research and advocacy center that supports fair employment and publishes research hiring practices, celebrates the decision.
New York, NY — As new unemployment figures show a still-staggering 9 percent of Americans out of work, a new report from the policy center Demos examines the degree that low income American families use credit to weather economic shocks, and draws out the impact of credit card debt on families' long-term financial stability.