Americans without jobs, or with jobs that have slow wage growth, have little, if any, opportunity to establish a credit history that facilitates access to financial services. Others, especially in the wake of a recession that put many people out of work and homes, may have dents on their credit records that inhibit their ability to borrow on affordable terms.
The good news, therefore, is that we live in challenging times and that for those of you who work in the Institute this will mean important and policy relevant work today and in the future.