Political Quotes

“Mr. Chair, in this country, our credit reports are our reputations, determining where you can live, where you can work, and how much it will cost you to finance everything from a car to a college degree. But our credit reporting system is fundamentally flawed, rife with inequities and disparities that stifle the upward mobility of millions of hardworking Americans. I am proud to rise in support of my Comprehensive Credit Reporting Enhancement, Disclosure, Innovation, and Transparency, or Comprehensive CREDIT, Act, a critical package of reforms that will improve our fundamentally flawed credit reporting system. How and what information is shared with credit reporting agencies is especially important as Americans take on ever-increasing debt simply for trying to afford basic needs: housing, healthcare, and higher education. Trailing only mortgages, student loan debt is now the second highest form of consumer debt, impacting nearly one-fifth of U.S. households and totaling over $1.6 trillion. That is trillion with a T. In my home State of Massachusetts, alone, over 855,000 borrowers owe a total of $33.3 billion in student loan debt.…”