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.
“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 response to the COVID-19 crisis must include investments in public goods and health infrastructure, breaking up concentrated economic power, and equitable access for Black and brown communities.
Thought pieces from Black and brown Demos staff who have collaboratively reflected on the history of racism, the current state of our democracy, and envisioned the power of an inclusive democracy.
Executive actions the new administration can take to help ensure the integrity of our elections and strengthen opportunities for civic participation for Black and brown Americans.
An executive action for student debt cancellation would provide much needed economic relief to millions of Black and Latinx families in order to avoid financial catastrophe during the continuing global pandemic.
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.
