Afraid your bad credit may be holding you back from a great job?
That soon may not be a concern for job-hunting New Yorkers, as the Credit Privacy in Employment Act passed the New York Assembly on June 20. The act will largely ban employers from using credit reports to influence employment decisions.
In his much-anticipated speech on climate change, President Obama proposed smart, modest policies that would help decrease greenhouse gas emissions through support for renewable energy development and increased energy efficiency measures, prepare the country for the climate change that is already occurring, and lead international climate efforts, including phasing out fossil fuel subsides and stopping funding for new coal plants overseas.
June 25th marked the 75th anniversary of the federal minimum wage law in the United States, known as the Fair Labor Standards Act. When President Franklin Delano Roosevelt signed this legislation, his vision was to ensure a “fair day’s pay for a fair day’s work” and to “end starvation wages.”
Q. How would you summarize the decision in a single sentence?
A. The court effectively rolled back an important provision of the Voting Rights Act, ruling that the act’s formula requiring federal preapproval of election changes for some states but not others was outdated because it was based on data from the 1960s and ’70s.
Q. Did anything in in it — or in the justices’ votes — surprise you?
A. I was not surprised by the votes of the particular justices.
Five Supreme Court Justices just rolled back the most effective civil rights provision in our nation's history. What should we do now?
One option is to declare "mission accomplished" and forget about race in politics.
That, however, will not work. Although we have made amazing progress in the past fifty years, too many state and local politicians still maintain power by manipulating election rules.
The Supreme Court dealt the Voting Rights Act a serious body blow Tuesday, but it did leave Congress an out. The court said, “Congress—if it is to divide the States—must identify those jurisdictions to be singled out on a basis that makes sense in light of current conditions.”
The Supreme Court just declared that the Civil War is no longer relevant to the history and administration of racial justice in America.
In a sense, the court's decision in Shelby County v. Holder validated a generations-long effort -- first by Democrats and later by Ronald Reagan and the Bush family -- to throw off the moral weight that slavery and the Civil War had placed on the South. [...]
Workers at the Ronald Reagan Building and International Trade Center filed a complaint with the Labor Department on Monday alleging a slew of labor violations against their employers, including not being paid the minimum wage and working as many as 80 hours a week without overtime pay.
The Reagan Building is a federal property, but the workers who lodged the complaint are employed by private businesses in the building's food court, like a Subway sandwich shop, a Quick Pita franchise and a Smoothie King location.
Can some types of debt cause the blues? Why are people approaching retirement age carrying credit card debt? This column shares results from recent research about credit card debt among older Americans. [...]
In a keynote address last Friday in Baltimore, Maryland Governor Martin O’Malley broke down the reasons behind his administration’s decision to make Maryland the first state in the union to employ a Genuine Progress Indicator (GPI), a quantitative assessment that integrates both the costs and the benefits of economic development into a monetary measure of whether growth is truly enhancing the welfare of individuals and communities.
A Supreme Court decision Monday that struck down an Arizona law requiring people to provide proof of citizenship when registering to vote was hailed by voting-rights advocates as a big win. But several legal scholars say the ruling, written by Justice Antonin Scalia, could in fact set back the voting-rights cause in cases to come.
In a 2011 speech on the floor of the U.S. House of Representatives, civil rights hero and Congressman John Lewis (D-Ga.) eloquently described attacks across the country on Americans' access to the ballot box: "Voting rights are under attack in America.
CFTC Chairman Gary Gensler has often said that weak rules on regulatory jurisdiction across borders could blow a hole in the bottom of financial reform. He is right. In a recent speech on the subject, he said: “All of these common- sense reforms Congress mandated, however, could be undone if the overseas guaranteed affiliates and branches of U.S. persons are allowed to operate outside of these important requirements.”
Credit reports weren’t designed to be job-screening tools. But about half of employers now use them when making hiring decisions, according to a 2012 study by the Society for Human Resource Management. The practice cuts across all sectors of the economy, from high-level management to office assistants, home health-care aides, and people who work the counter serving frozen yogurt.
For some job seekers, repeated rejection by potential employers may be traceable to an unlikely source: their credit report.
Regulators are cracking down on some of the methods companies are using to screen candidates (two major companies this week were accused of using background checks to discriminate against black applicants.) But employers’ use of credit checks during the hiring process is legal and fairly common.
Regulators in the United Kingdom are looking into allegations that traders from some of the world's largest banks have been manipulating benchmark foreign-exchange rates to make profits on the backs of clients.
Bloomberg News broke the story earlier this week, citing interviews with several anonymous traders who claim the practice has been occurring for at least 10 years. [...]
We have learned, painfully, of the damage derivatives can do to an economy in a financial crisis. But derivatives are hurting the economy even on its best days, according to a new study.
Last month Nevada joined a growing number of states and cities that are forbidding companies from using credit checks to make employment decisions. But the practice is still legal under federal law. [...]