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Fall 2014 Latinomics: Poverty, Unbanked, and Unemployment Rates Decline

Fall 2014 Latinomics: Poverty, Unbanked, and Unemployment Rates Decline

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Cutting across partisan divides, voters across America backed minimum wage increases.

This fall, we saw the Latino unemployment rate hit the lowest level since February 2008, declines in the Latino poverty rate, and victory for 200,000 employees of federal contractors who will now make a minimum wage of $10.10.

While the Latino poverty and unemployment rates still remain disproportionately high and we saw setbacks as the Labor Department delayed implementing the minimum wage for home care workers, NCLR won’t stop fighting for the rights we all deserve.

Thanks for all your support this fall, and read on to see the latest in Latinomics!

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Economic Rights Are Essential to the Pursuit of Happiness

Economic Rights Are Essential to the Pursuit of Happiness

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Last week, Consumer Financial Protection Bureau (CFPB) Director Richard Cordray addressed students at Michigan State University on the anniversary of three pivotal moments in American History: the Supreme Court’s 1954 Brown v. Board of Education decision, the 1964 Civil Rights Act, and the Equal Credit Opportunity Act of 1974.

With these three historic events, the United States moved closer to fully realizing the inevitable truth that civil rights, political rights, and economic rights are inextricably linked. They are all necessary for a free and democratic society.

While Brown v. Board of Education and the 1964 Civil Rights Act are relatively known for their roles in reducing legal discrimination, Director Cordray used his speech to highlight a less-known antidiscrimination law: the 1974 Equal Credit Opportunity Act (ECOA), which celebrates its 40th anniversary this year.

For the first time, ECOA outlawed discrimination by creditors against borrowers based on race, ethnicity, sex, age, and national origin.

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