In the News
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Daily News: City Will Ban Employers from Viewing Credit History of Prospective Workers
New York Daily News — The City Council is expected to pass a bill Thursday that will make it illegal for employers to check job-seekers’ credit history, officials told the Daily News.
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Majority Leader Morelle and Senator Gallivan to Sponsor A.G. Schneiderman’s Payroll Card Act
Assembly Majority Leader Morelle and Senator Gallivan, Press Release — Attorney General Eric T. Schneiderman today announced that Assembly Majority Leader Joseph Morelle and Senator Patrick Gallivan will sponsor the Attorney General’s program bill regulating the use of payroll cards to increase protections for workers, clarify ambiguities in the law, and ensure that payroll cards…
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Nasdaq: Credit Reports to Raise Standards to Improve Accuracy
Nasdaq — “Problems with credit reports routinely block people’s access to housing and jobs, particularly low income people and people of color,” said Susan Shin, senior staff attorney at the New Economy Project…
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New York Observer: Minority Groups Rally Outside Fed Against Interest Rate Hike
New York Observer — Minority activist organizations demonstrated in the snow outside the Federal Reserve Bank of New York, insisting that the institution keep interest rates low until stubbornly high unemployment rates in nonwhite communities drop further.
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The Capitol Pressroom: New Yorkers for Responsible Lending Coalition in Albany
Capital Pressroom — New Economy Project’s Susan Shin and Franklin Romeo, Director of the Homeowner & Consumer Rights Project at Queens Legal Services, discuss economic justice in NY’s debt collection and mortgage/foreclosure policies with Susan Arbetter on WCNY Radio.
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Law360: Class Cert. Upheld In Leucadia ‘Default Judgment Mill’ Row
Law360 — The Second Circuit upheld class certification for more than 100,000 consumer debtors who allegedly fell prey to a fraudulent debt-collection default judgment scheme by a Leucadia National Corp. debt-buying affiliate and its law firm and process server, finding Tuesday that common issues predominated.
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New York Times: Group Urges New York City to End Credit Checks by Employers
New York Times — New York City employers use credit checks to screen applicants for all sorts of jobs, like dog-walking and janitorial work. A coalition of municipal labor leaders, liberal advocates and left-leaning City Council members is seeking to end that practice, saying it disproportionately harms blacks and Hispanics without accurately predicting fraud or…
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NYS Department of Financial Services: New Regulation of Debt Collection Practices
NYS Department of Financial Services, Press Release — Governor Andrew M. Cuomo today announced new, nation-leading reforms that will protect consumers against abusive and deceptive debt collection practices.
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Epoch Times: NY Bank Offers Throw Financial Lifeline to the Needy
Epoch Times — New York is considering a novel solution to alleviate the lending needs of credit-strapped low-income consumers called “borrow and save,” a type of loan designed to simultaneously extend credit lines to the needy and help them rejoin the financial mainstream.