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In the News
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Office of Council Member Jumaane D. Williams: Williams to Introduce Credit Discrimination Bill
Office of Council Member Jumaane D. Williams — “New Economy Project applauds Council Member Williams for shining a light on credit discrimination,” said Andy Morrison, New Economy Project’s campaigns coordinator. “Lending discrimination is a persistent abomination that denies New Yorkers economic opportunities and serves to perpetuate racial inequality and segregation in our city.”
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City Limits: Local Pols, Advocates Plead With Feds to Strengthen Payday Lending Rules
City Limits — A coalition of seven New York state senators, four assemblymembers, one borough president, 25 councilmembers, a city agency and dozens of community groups, advocacy organizations and unions is pushing federal consumer watchdogs to create stronger rules governing payday loans — or at least not create regulations that undermine New York State’s strong…
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New York Times: Workers Paid by Card Will Gain Protections in New York State
New York Times — Workers in New York State who receive their wages on prepaid cards will gain consumer protections next year that advocates say are among the strongest in the nation.
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NYS Governor’s Office: Governor Cuomo Enacts Country’s Most Comprehensive Worker Protections Against Hidden Payroll Card Fees
NYS Governor’s Office — New Payroll Card Regulations Issued By State Department of Labor Will Eliminate Costly Hidden Fees, Prohibit Employers from Receiving Kickbacks, Mandate Local Access to Fee-Less ATMs
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New York Post: Paying Off Debt is Stressing Out New Yorkers
New York Post — “I have personally spoken to thousands and thousands of New York City residents alone who are dealing with debt collection problems,” said Susan Shin, legal director at the New Economy Project, an advocacy group in New York that operates a hotline for troubled debtors.
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Inside Sources: Technology Pushes Banks Away From Branches as Federal Rules Keep Them Central
Inside Sources — For decades, when Americans have thought of banks they typically have in their mind a branch: tellers, an ATM outside, open 9-to-5, closed weekends. But as technology and markets have evolved, so have branches, creating tension between banks that want to change with the times and federal regulators who want to ensure…
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Center for Public Integrity: An Alleged Housing Scam Grows in Brooklyn
Center for Public Integrity — A housing scam alleged by Brooklyn Legal Services uses a map produced by New Economy Project to illustrate the concentration of suspicious property transactions in communities of color.
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New York Times: Debt Collectors’ Abuses Prompt Consumer Agency to Propose New Rules
New York Times — For the first time in nearly 40 years, federal regulators are preparing to significantly strengthen the rules that govern debt collection in an effort to clamp down on collectors who hound consumers for debts they may not even owe.
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Next City: Mapping a Neighborhood’s Financial Health
Next City — For 17 years and counting, Shelly Jones has been working at the credit union inside Union Settlement House on 104th Street in East Harlem. She’s been branch manager for the past seven.
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The Washington Post, Op-Ed: Here’s What Happens When Payday Loans are Banned
The Washington Post — Imagine a land with no payday loans. Flashing neon signs advertising “Fast Cash” no longer dot the landscape in low-income neighborhoods and communities of color, and nary a lender is permitted to extract interest rates of 400 percent and up.