April 21, 2020 — Issue Brief

The COVID-19 pandemic has devastated our economy, leaving over 26 million consumers unemployed (as of late April 2020) and forcing countless small businesses to close. This economic catastrophe will also lead to damaged credit reports and plunging credit scores for tens of millions of consumers. Lower credit scores will not only impede consumers’ ability to get affordable credit, but can also impact jobs, housing, and the ability to recover when this crisis is over.