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.
Don't use that post-surgery fog as an excuse to ignore medical bills, even if you're still contesting them with your doctor or health insurer. Otherwise, your credit score will need to heal, too.
Medical debt is the most common type of collection account, representing nearly half of all reported collections. Almost one in six credit reports contain a medical debt collection, according to the Federal Reserve. And about two in five Americans reported a lower credit rating last year due to unpaid medical bills. [...]
A new survey finds that African-Americans are much more likely than whites to be called by debt collectors, despite both groups reporting relatively equal levels of debt and repayment rates.
People who end up with damaged credit — often through no fault of their own — can be shut out of jobs by employers who hold their credit histories against them.
Credit checks aren’t just for loan officers anymore. Now, your prospective employer is checking your credit history too.
The practice is increasingly common as employers look for more ways to determine whether or not they’re about to hire the right employee.
But Massachusettes Sentaor Elizabeth Warren says it’s a practice that must end because credit history is biased and does not give an accurate picture of a person’s ability to do their job properly.
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.
Remember having ‘the talk’ with your parents? That clumsy conversation forced upon you as a pre-teen when you desperately tried to avoid eye contact while muttering “I already know this, Dad” and wavered back and forth between feeling embarrassed and grateful?
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. [...]
African Americans have been pummeled by the recent financial crisis, including facing the most adverse consequences of credit card debt and higher interest rates, according to a recently released study by the NAACP and Demos, a U.S.-based research and policy center.
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.”
The New York Times reported this morning (echoing the reporting of Greg Sargent and others earlier this year) that Democrats plan to campaign on raising the minimum wage during the election season. Aside from being good economic policy, raising the minimum wage is quite popular,
Middle-class Blacks are using credit to help cover their basic living expenses, according to a report from the NAACP and public policy research organization Demos. In the recession’s aftermath, 79 percent of middle-class African-American households carry credit card debt.
Betty McCray, 53, has moved around a bit in her lifetime. She’s worked as a chef, a nursing home attendant and a welder. Throughout, she says proudly, she has “worked union,” even in states with anti-labor right-to-work laws, such as Tennessee, where she moved in 2010 to be closer to her son.
Here’s some welcome news. At his meeting with Democratic Senators last night, President Obama indicated that he is giving serious consideration to executive action designed to raise the minimum wage for employees of federal contractors, according to one Senator who was present.
One day after a top Obama administration official deflected a congressman’s call for executive action to raise labor standards for contractors, activists Wednesday announced the filing of a new Department of Labor complaint over alleged wage theft in a government building. The complaint alleges that dozens of workers in D.C.’s government-owned Union Station are owed over $3 million in back pay and damages for rampant failure to pay minimum wage or overtime.
As the White House prepares to launch a major economic opportunity effort, record high unemployment among black and Latino youth underscores how essential it is to create job opportunities for young people of color.
The critical issue here is that the ages of 16 to 24 are make or break years for lifelong earning potential. With one out four blacks and one out of six Latinos under the age of 25 without work, a generation of youth of color risks falling behind.