One motivation for this hearing is the recent study by the Federal Trade Commission finding that one in five American consumers identified material errors on their credit reports that were substantiated by the credit reporting agencies.
Tomorrow is the third anniversary of the Deep Horizon explosion that spilled 200 million gallons of crude oil into the Gulf of Mexico. The spill fouled 1,110 miles of beaches and marsh along the coasts of Louisiana, Mississippi, Alabama and Florida. Three years later, the cleanup continues and crews continue to find oil buried and tar balls washing ashore.
The furor over President Obama's proposed cuts to Social Security benefits has obscured a key fact about his latest 10-year budget plan: Which is that, despite those cuts and even bigger cuts to Medicare, the plan only modestly slows spending on seniors even as it proposes significant cuts to nearly every other government function over the next decade.
A few weeks ago, Supreme Court Justice Antonin Scaliasaid that a key provision of the Voting Rights Act was motivated by a "perpetuation of racial entitlement."
Representative Keith Ellison held a press conference yesterday outside the Capital building in Washington, D.C. to announce the reintroduction of a bill that would tax financial transactions on Wall Street. The Inclusive Prosperity Act, which was first introduced last year and is supported by many economists, would implement a 0.5 percent tax on speculation and derivates and would reel in more than $300 billion a year in revenue.
In North Carolina you can buy a gun without a background check, but according to a bill recently passed by the state legislature, the same shouldn't be true for receiving food stamps and other forms of government assistance.
A few weeks ago, Supreme Court Justice Antonin Scalia said that a key provision of the Voting Rights Act was motivated by a "perpetuation of racial entitlement."
The President’s attention in his proposed budget to the challenges faced by unemployed young workers is encouraging. His proposal for a “Pathways Back to Work Fund” would make $12.5 billion available to create and/or subsidize jobs for younger as well as older unemployed workers.
It’s been a good week for the 23,000 people who work for one U.S. retail chain. Even as the national economy continued to plod along and the unemployment rate remained disturbingly high, Hobby Lobby announced it is upping its minimum hourly wage to $14 for full-time employees and $9.50 for part-time workers.
WASHINGTON, D.C. – The Corporate Reform Coalition calls on newly confirmed SEC Chair Mary Jo White to act now to require disclosure of corporate political spending. A record-breaking 500,000 investors and members of the public have submitted comments supporting the rule, demonstrating the importance of this issue. Chair White should seize this pivotal opportunity to safeguard shareholders by providing them with information necessary for their investing decisions.
After a bruising election in which their standard-bearer became a symbol of wealth and privilege, Republicans are emerging as born-again champions of the common people. The latest proposal in the House, the “Working Families Flexibility Act,” is billed as a pro-worker proposal that will let mom bank comp time so she can take a family vacation later. But for such a worker-friendly idea, the bill has attracted support from strange quarters.
A new report from the National Consumer Law Center (NCLC) is advocating a 36 percent interest cap rate that would alleviate the personal debt crisis in the United States.
One of the main arguments used to justify fracking is that due to the increased supply of natural gas, the price of natural gas is falling and electricity generation is shifting towards using natural gas and away from using coal. Fracking proponents also point to a decline in overall greenhouse gas emissions as a result of natural gas use. But, if natural gas really is so cheap and we are producing more of it, why aren’t electricity prices decreasing?
Like many New Yorkers, Hazel B. of Queens struggled to get by after she was laid off from her job as an accounts receivable administrator. A single mother of two, Hazel relied on credit cards to make ends meet while she looked for work.
Finally, she found a job opening that looked promising. She went on two interviews and took a test given by the potential employer. She believed she had performed well, but then word came back that Hazel would not be hired because of negative information in her credit report.
Over the past decade, Demos has conducted extensive research on credit card debt among low- and middle-income households. As part of this research, we have become increasingly concerned with how families are being financially penalized for being in debt, making it difficult, if not impossible, for them to ever get out of debt. In 2012, we surveyed a nationally representative sample of about a thousand low- and middle-income households that were carrying credit card debt for three months or longer. I was the principal researcher on that study.
