'At a time of widespread financial upheaval, it's time to think bigger: Since credit reporting determines access to economic opportunity for every American household, it should be treated as a public utility,' Amy Traub writes. | CNN Business Perspectives
Amy Traub is associate director of policy and research at Demos. The opinions expressed in this commentary are her own.
.leftside-floating-image { width:100%; display:block; margin:0 auto 1.5rem; } @media screen and { .leftside-floating-image { float:left; width:50%; max-width: 200px; display:block; margin:0 1.5rem 1rem 0; } } While the stimulus checks and expanded unemployment benefits Congress has offered so far are a lifeline for struggling families, these measures are not enough to address the ongoing shock to household finances.
Even a short-term economic disruption can quickly turn into long-term debt for American families, with the potential to ruin a household's credit for many years to come. While Congress recently mandated changes to credit reporting rules in the wake of Covid-19, hard-hit consumers will still get little relief.
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