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In the News
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Pix 11: Customers Angry After Bank of America Tightens Free-Checking Rules
Pix 11 — “Banks have some special responsibilities toward the broader public. They’re very powerful institutions, and there’s no reason that Bank of America should be punishing low-income New Yorkers,” said Raúl Carrillo, staff attorney for New Economy Project.
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NYC Comptroller Scott M. Stringer: Comptroller Stringer and Advocates Condemn Bank of America’s Outrageous Attempt to Jack Up Fees on Low-Income Customers
NYC Comptroller, Press Release — New York City Comptroller Scott M. Stringer and a coalition of advocates today condemned Bank of America’s move to target its low-income customers with new, high fees just as the bank is set to reap massive profits from the recently-passed GOP tax plan.
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Kansas City Star: CFPB drops Kansas payday lending case, stoking fears Trump is backing off the industry
Kansas City Star — Without explanation, the Consumer Financial Protection Bureau has dropped a lawsuit in Kansas it had filed a year ago against four payday lending companies.
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350.org: New Yorkers Celebrate as NYC Mayor Announces Divestment from Fossil Fuels, Files Climate Lawsuit
350.org, Press Release — Today, following over five years of persistent campaigning from New Yorkers, New York City Mayor Bill de Blasio announced the City is moving forward with full fossil fuel divestment. The city’s five pension funds, a combined $191 billion, will divest $5 billion in securities from over 100 fossil fuel reserve owners.
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City Limits: The NYC Community Land Trust Movement Wants to Go Big
City Limits — The community land trust movement is on the rise in cities across the country from Miami to Oakland, but as of late, the Big Apple arguably ranks among the cities where the movement is most energized. Across the five boroughs, where for the past 20 years there’s been one community land trust…
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Nonprofit Quarterly: NYC Partners with Community to Improve Neighborhood Financial Health
Nonprofit Quarterly — A recent report issued by the NYC’s Office of Financial Empowerment, in collaboration with New Economy Project and other groups, examines the causes of neighborhood financial distress and proposes systemic solutions.
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2017 Roundup
Check out this two-page snapshot highlighting some of New Economy Project’s work, events, and media coverage during 2017!
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NYC Dept. of Consumer Affairs: DCA Releases Report on the Ways Neighborhoods Influence Residents’ Financial Health
NYC Dept. of Consumer Affairs, Press Release – The report is the product of a year-long collaboration between DCA and a team led by New Economy Project to define neighborhood financial health and offer a set of goals and indicators for a financially healthy neighborhood.
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New York Law Journal: Win for Consumers: Second Circuit Reverses Debt Collection Suit
New York Law Jounrnal — Attorneys for the plaintiffs in a debt collection suit lauded a decision Monday by the U.S. Court of Appeals for the Second Circuit, calling it a major victory for low-income people facing aggressive and potentially illegal collection practices.
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NBC News: Despite Ban on Payday Lending, Public Pensions Profit from Outlawed Loans
NBC News — Our Campaigns Director Andy Morrison talks to NBC’s I-Team about New York State and City’s investments in companies whose predatory loans are illegal in New York.