In the News
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Credit Checks Campaign Media Roundup
With just 44 days to go until the Stop Credit Discrimination in Employment Act goes into effect, we put together this media summary of the three-year campaign to win passage of the law. This is just a sampling of the widespread coverage received by New Economy Project and allies in the Coalition to Stop Credit…
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Bloomberg Business: Banks’ Billions in Overdraft Fees Seen Dodging Tough U.S. Rules
Bloomberg Business — “The unfair, deceptive and abusive nature of bank overdrafts calls for deliberate, strong action by the CFPB,” said Sarah Ludwig, co-director of the New Economy Project, a New York advocacy group.
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New Republic: The Future of Wall Street Regulation Is in Andrew Cuomo’s Hands
New Republic — The fight for financial reform has shifted to an unlikely setting: Albany. New York Governor Andrew Cuomo must soon appoint a replacement superintendent for the state Department of Financial Services (DFS), an obscure regulatory position that the current head, Benjamin Lawsky, elevated into a major national player over the past four years.
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Gothamist: Workers Who Get Paid With Debit Cards May Get Screwed A Little Less
Gothamist — Employers who pay their workers with so-called “payroll cards”—an alternative to paper checks or direct deposit that looks a whole lot like a debit card—may finally be forced to spare their employees the steep fees associated with taking out cash and checking their balances.
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Daily News: Redlining and Predatory Lending Persist in New York’s Communities of Color
Daily News — “There’s a serious lack of brick-and-mortar branches in communities of color. That means people are once again denied access to banking services. The same problems with redlining are persisting,” says Josh Zinner, co-director of the New Economy Project, a leading advocacy group.
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Wall Street Journal: An SUV, a Loan and a Lawsuit
Wall Street Journal — Olga Arroyo said she went to an auto dealership in the Bronx last year planning to cosign a car loan for her 39-year-old son. But the 56-year-old Manhattan resident, who has good credit but monthly income of only $1,354 in Social Security benefits, said she unwittingly left with a $51,000 car…
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The Nation: New York City Just Outlawed Running Credit Checks on Job Applicants
The Nation — The legislation, which passed last Thursday following an extensive grassroots campaign by local and national labor and community groups, restricts a boss, prospective employer or agency from “us[ing] an individual’s consumer credit history in making employment decisions.”
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Wall Street Journal: City Acts to Limit Credit Checks
Wall Street Journal — New York City is one step from enacting a ban that would prevent employers from using credit checks to screen job applicants, which the sponsor of the measure says is the most far-reaching in the nation.
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City Limits: Advocates Hail NYC Credit-Check Ban as Strongest in the U.S.
City Limits — Intro. 261, sponsored by Brooklyn’s Brad Lander, would make it illegal for an employer, labor organization, employment agency or licensing agency to ask for or use “information contained in the consumer credit history of an applicant for employment” or make any decisions on hiring, firing, promoting or paying a person based on…
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NY1: Councilman, Expert Discuss Legislation to Ban Employment Credit Checks
NY1 — New Economy Project’s Sarah Ludwig joins Councilmember Brad Lander to discuss the city’s plan to pass legislation banning the discriminatory practice of employment credit checks.