“Credit reports and scores directly impact Americans’ economic security and opportunity. Credit history can affect the way Americans are treated by lenders, landlords, utility companies, hospitals and employers. Having a poor credit history or a “thin file” with insufficient credit information to generate a credit score can mean a consumer will end up paying more for loans and insurance (or have trouble even getting them in the first place). Misuses of credit history are prevalent and harmful: Job seekers can be denied work based on their credit history, and the Trump administration has even proposed using credit history to determine whether immigrants should be eligible for permanent residency. Most harmfully, our credit system is built on—and continues to reinforce and expand—deep racial inequities. Generations of discrimination in employment, lending, education and housing have produced significant racial disparities in credit history. Past discrimination is baked into current determinations of creditworthiness: Credit scores and other lending algorithms disproportionately represent black and Latino loan applicants as “riskier” customers. As a result, decisions drawing on credit data reproduce and spread existing racial inequality, making it harder to achieve true economic equity.”
Source: Establish a Public Credit Registry | Demos
“American slavery was “officially” buried by our nation’s ratification of the 13 14 and 15 amendments to the constitution. But the ghosts of slavery soon inhabited new forms — political, economic, and cultural — intent on returning Blacks to a position of abject servitude and subordination. Jim Crow segregation embodied slavery’s spirit of White supremacy, allowing it to live on in a different form. The civil rights movement of the mid-twentieth century was but another attempt to exorcise from American life the demonic spirit of slavery that had so horrifically deformed American institutions and culture. But by 1980 it was clear, yet again, that notwithstanding the “official” death and burial of old Jim Crow — a death certified by the passage of the 1964 Civil Rights, 1965 Voting Rights, and 1968 Fair Housing Acts — the past lived on. The ghosts of American slavery and its mutant offspring, Jim Crow, roamed the land of the free and haunted the home of the brave in search of new cultural, political, and economic practices to possess and infest. American slavery was “officially” buried by our nation’s ratification of the 13 14 and 15 amendments to the constitution. But the ghosts of slavery soon inhabited new forms — political, economic, and cultural — intent on returning Blacks to a position of abject servitude and subordination. Jim Crow segregation embodied slavery’s spirit of White supremacy, allowing it to live on in a different form. The civil rights movement of the mid-twentieth century was but another attempt to exorcise from American life the demonic spirit of slavery that had so horrifically deformed American institutions and culture. But by 1980 it was clear, yet again, that notwithstanding the “official” death and burial of old Jim Crow — a death certified by the passage of the 1964 Civil Rights, 1965 Voting Rights, and 1968 Fair Housing Acts — the past lived on. The ghosts of American slavery and its mutant offspring, Jim Crow, roamed the land of the free and haunted the home of the brave in search of new cultural, political, and economic practices to possess and infest. ”
