According to human resources surveys, nearly half of all employers now conduct credit checks as part of their hiring process. Yet there is little basis for this practice.
“A relentlessly growing deficit of opportunity is a bigger threat to our future than our rapidly shrinking fiscal deficit.” So said President Obama in his recent speech on increasing economic inequality, which he said “challenges the very essence of who we are as a people.”
Quite like Hollywood's, the glitterati of the university depends on a semi-translucent support crew. There are papers to grade, lab-rats' necks to snap, low-level requisite classes to teach, exams to proctor, online discussions to moderate, etc. As U.S. college enrollment has nearly tripled between 1970 and 2010, this arduous and quasi-intellectual scut work has accumulated quicker than ever.
Judge Rhodes ordered the city and the banks to renegotiate their settlement which would have paid the banks 75 cents on the dollar. Despite a unanimous city council vote against it, the Emergency Manager is currently pushing the city to enter into another financial deal with Barclays to pay off the swaps termination fees.
NEW YORK — Demos applauds the work of Senator Elizabeth Warren (D-MA) who today introduced The Equal Employment for All Act, legislation that would prohibit the widespread use of personal credit history in employment. The use of employment credit checks is an unjust practice that poses a serious barrier to economic security for many Americans and leads to discriminatory hiring practices against people of color and the long-term unemployed.
WASHINGTON—Today,Senator Elizabeth Warren (D-MA) introduced The Equal Employment for All Act. This legislation would prohibit the widespread use of personal credit history in employment, an unjust practice that poses a serious barrier to economic security for many Americans and leads to discriminatory hiring practices against people of color and the long-term unemployed.
U.S. Sen. Elizabeth Warren, a Massachusetts Democrat, introduced legislation on Tuesday that would prohibit employers from requiring job applicants to disclose their credit history.
In a conference call with reporters, Warren argued that a person's poor credit history is often the result of medical bills, job loss or divorce and does not reflect his ability to perform a job.
Job-hunters are increasingly being asked to agree to allow potential employers to view their personal credit information, a development that Sen. Elizabeth Warren says is unfairly keeping people out of the job market who've had financial setbacks or have reports that contain inaccurate information.
Hank Ronan knew he would get the job. He had sailed through three rounds of interviews and hit it off with the doctors at the diagnostic center in Annandale, Va., where he had applied to be a driver for $11 an hour.
Shuttling patients to appointments was a world away from his 20 years as a software engineer, but it was the best that Ronan could find after being laid off in 2011. He was eager to get back to work and granted the doctor’s office permission to run a credit check. Ronan never heard back, he said Tuesday in an interview. [...]
Demos applauds the work of Senator Elizabeth Warren (D-MA) who today introduced The Equal Employment for All Act, legislation that would prohibit the widespread use of pe
Generations Initiative is a network of leaders, organizations, and communities that work together to raise awareness and promote solutions to harness America's current demographic revolution to our country's advantage. It aims to build on the strengths of each generation to ensure our democratic and economic vitality. The goal is to catalyze action that transforms these demographic shifts into an asset for our collective future.
President Obama has proclaimed that thanks to the Volcker Rule "never again will the American taxpayer be held hostage by a bank that is `Too Big to Fail', " the reality is a bit more complicated.
Though the rule issued today by financial regulators seeks to ban proprietary trading -- essentially gambling with federally insured deposits -- some experts argue that banks will find ways to get around the restrictions to continue engaging in risky behavior. [...]
In November, Congress failed to renew the 2009 stimulus provision allocating additional funds to the Supplemental Nutrition Assistance Program (SNAP). This removed a much-needed $5 billion from an already underfunded public program tasked with keeping 47 million Americans from going hungry.
NEW YORK -- In response to the final, approved version of the Volcker Rule, Demos Senior Fellow Wallace Turbeville, aformer investment banker and the author of Demos' recent Volcker Rule explainer and The Detroit Bankruptcy report, released the following statement:
The much-anticipated final regulations implementing the Volcker Rule will be released today and, almost miraculously, it seems to be significantly stronger than the proposed text publicized more than a year ago. We will all have to await the actual wording since this is an area in which the devil is truly in the details.
But the all-important limitation on insured banks betting on the trading markets with depositors’ money is rumored to do a few key things:
The Volcker Rule is a requirement in the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 that is sometimes referred to as a “mini-Glass-Steagall.”
If anyone still suspects that National Public Radio has a consistently liberal bias, listen to Robert Siegel's interview with Brigid Flaherty, organizing director for the Alliance for a Greater New York, a labor advocacy group, on Wednesday's All Things Considered.
Americans aren’t incredibly concerned about the wide income gap between the very rich and the very poor, even though it's bigger issue in the United States than any other advanced economy. And it's growing.