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In the News
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New York Times: Victims of Debt Collection Scheme in New York Win $59 Million in Settlement
For press inquiries, email press@neweconomynyc.org. Tens of thousands of New Yorkers who had their wages garnished or bank accounts frozen in a surreptitious debt collection scheme will receive $59 million in a class-action settlement that also bars a major network of collectors from continuing the practice.
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Daily News: Lessons from the RushCard Fiasco: New York Needs Stronger Protections on Prepaid Debit Cards
Daily News — If there’s a silver lining to the recent RushCard debacle, it’s that it has exposed systemic failings in the prepaid debit-card industry and provided the clearest and most harrowing illustration yet of why strong oversight is needed.
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The Guardian: Credit Scores in America Perpetuate Racial Injustice. Here’s How.
The Guardian — Worried about the use of big data for corporate gain? Look not further than the credit scoring system in the US, which has profound impact on our daily lives and is a source and perpetuator of systemic racial injustice.
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Yes! Magazine: NYC’s Credit Unions Give Mom-and-Pop Stores a Chance, Despite Gentrification
Yes! Magazine — “It’s kind of fundamental to their mission,” says Deyanira Del Rio at New Economy Project, an organization that seeks to build democratic local economies by supporting a range of cooperative enterprises. “Not just helping people tap into financial services…but creating opportunities to purchase owned homes and have real economic roots [in the…
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CFPB: New Members of the Consumer Advisory Board
Consumer Financial Protection Bureau, Press Release — New Economy Project Co-Director Josh Zinner is appointed to the CFPB’s Consumer Advisory Board.
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NYC Mayor’s Office: Mayor de Blasio and Human Rights Commissioner Malalis Announce New Law Taking Effect Today to Protect New Yorkers Against Employment Discrimination Based on Credit History
Mayor Bill de Blasio, Press Statement — Mayor Bill de Blasio and Human Rights Commissioner and Chair Carmelyn P. Malalis today launched a new public education and outreach campaign to educate New Yorkers on the City’s new law that protects job applicants and employees against discrimination due to credit history.
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New York Law Journal: City’s Credit Law Tackles Serious Discrimination (Letter to the Editor)
New York Law Journal — The article, “City’s New Credit Check Law Is Unnecessary” (NYLJ, Aug. 13, 2015), unfortunately gets a whole lot wrong about New York City’s newly-enacted employment credit checks ban, which goes into effect Sept. 3.
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El Diario: Polémica: Negocios del ‘Check Casher’ Quieren dar Préstamos
El Diario — La industria de los ‘check casher’ que es usada por muchos hispanos intenta modernizarse, pero se le está haciendo difícil porque es regulada por una ley que data de 1944. Los propietarios están urgiendo a los legisladores neoyorquinos una reforma y la vía libre para proveer préstamos tarjetas de débito y otros…
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Northwest Indiana Times: The Perils of Employment Credit Checks
Northwest Indiana Times — You applied, aced the interview and received a contingent job offer. But then the company pulled it after checking your credit. It’s a scenario that happens often across much of America.
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The Awl: The Ungentrifiers
The Awl — The NYC Community Land Initiative is an alliance of organizations, led primarily by New Economy Project and Picture the Homeless, that is working to establish community land trusts and mutual housing associations throughout the city, beginning in East Harlem.