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 Disparate Impact standard is critical to continued and enhanced opportunity to access fair credit, housing, and homeownership. Demos strongly opposes efforts to undermine this longstanding enforcement tool.
Baltimore’s campaign donors lack diversity across race, gender, and socioeconomic status. The Baltimore Fair Election Fund, designed with equity and community engagement at the forefront, can change that.
Private credit reporting is failing for all of us who must rely on credit reports produced by for-profit companies to navigate financial transactions. For communities of color, credit scores evoke the decades of bank redlining and unequal access to credit whose impact persists to this day.
As part of an effort to reshape rules around debt and lending to reduce racial wealth inequality, we propose establishing a public credit registry to gradually replace the current for-profit credit reporting system.
Many Americans believe that we have achieved black-white racial economic equality, but the data continue to show that we have a long way to go. For centuries, we have had policies to help white families build wealth at the expense of black families.
Doing “everything right” — making all the optimal life choices to build wealth and get ahead, despite obstacles — is still not enough for black and Latino households to accumulate as much wealth as their white counterparts.