Amy Traub

Amy Traub is Senior Policy Analyst at Demos. She is the author of "The Plastic Safety Net: Findings from the 2012 National Survey on Credit Card Debt of Low- And Middle-Income Households," and "Discrediting America: The Urgent Need To Reform The Nation's Credit Reporting Industry," among other reports and research. 

Recent Articles

Confirm Cordray Already!

NCRC

The Senate confirmation vote on Richard Cordray this week won’t have much to do with Richard Cordray.

As I wrote when the Senate Banking Committee considered the Cordray nomination back in March, nobody disputes the idea that the former Ohio Attorney General, who has led the CFPB since January 2012, is highly competent and supremely qualified to continue in his position. Nor is the impact of the agency itself in doubt: in 2012 alone, 6 million U.S. consumers received refunds from financial services companies as a result of CFPB enforcement actions, according to Americans for Financial Reform, and the agency has handled more than 130,000 consumer complaints since it opened its doors less than two years ago.

Whether it’s protecting consumers from the type of reckless and deceptive mortgage lending that sparked the economic downturn or beginning to oversee the massive credit reporting companies that shape the financial lives of American consumers, the CFPB has proven itself to be a critical consumer watchdog.

How Our Tax Dollars Are Fueling Inequality

(Good Jobs Nation)

My name is Roxanne Mimms and I work for a food service contractor at the National Zoo.  I work full time but make barely minimum wage. I’m here because workers can’t live off what contractors pay us.  I’m here because I don’t want my two children to grow up on public assistance.  I’m here because I have dreams – My American Dream is a good job with fair wages to provide for my children, being able to pay my bills on time and save for the future.  I’m here because I want to help all the workers at the National Zoo whose dreams are on hold.”

Low-Wage Workers Say It's Not Getting Better

Flickr/ Walmart Corporate

It’s not getting better. That’s the key finding of a new survey of low-wage workers out yesterday from the Associated Press and NORC Center for Public Affairs Research at the University of Chicago. Eighty-one percent of low-wage employees surveyed said their family’s financial situation was the same or worse than it had been four years ago, while 64 percent reported that their wages have been stagnant or declined over the past five years. The survey queried 1,606 workers earning $35,000 or less annually.

According to the survey:

Equifax Knows Quite a Lot about You

Equifax

Just when we imagined that credit-reporting firms couldn’t be more invasive and profiteering, NBC News breaks this story

The Equifax credit reporting agency, with the aid of thousands of human resource departments around the country, has assembled what may be the most powerful and thorough private database of Americans’ personal information ever created, containing 190 million employment and salary records covering more than one-third of U.S. adults.

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