In the News
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Main Street: More than Half of Americans Who Overdraft Have The Same Ailment
Main Street — Some 50% of Americans who fall into overdraft do so, because they don’t know their account balance, according to a recent survey from GoBankingRates. That lack of knowledge is extra dangerous when it comes to the overdraft policies of banks, and consumer advocates are fighting back to end these misleading overdraft bank…
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WSHU: Banks Agree To Block Payday Lenders
WSHU — Four additional banks have agreed to block online payday lenders from accessing customer accounts in New York. The agreement comes as the banks’ processing network remains silent on efforts to keep the illegal loans from crossing state borders.
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NY1: New Economy Project Speaks on New Debt Collection Rules
NY1 — Senior Staff Attorney Claudia Wilner and client Marquisha Parker appear on NY1’s “Inside City Hall” to discuss the broken debt collection system and recent reforms in New York State’s courts.
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American Banker: Banks Could Be Next Target in Debt Collection Litigation
American Banker — Just when it seemed that some banks might be putting their legal woes behind them, another threat has emerged that could involve the entire industry — debt- collections litigation.
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Crain’s NY Business: Lobby Looks to Cash In
Crain’s New York Business — Letter to the Editor by New Economy Project Co-director Josh Zinner: “Check cashers try lending a hand” (Aug. 18) paints a misleadingly rosy picture of the check-cashing lobby’s motivations.
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The Nation: Why Are Employers Checking Job Applicants’ Credit Histories?
The Nation — It’s the classic Catch-22 of the doomed job search: How do you get a job? You need experience. And how do you get experience? Get a job. But for many, the unemployment cycle gets further twisted when it intersects with the debt cycle. When prospective employers run credit checks, a bad report…
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Queens Chronicle: Should Employers Check Your Credit?
Queens Chronicle — A bill that aims to “prohibit discrimination based on one’s consumer credit history” by banning employers from doing credit checks on job applicants will be the subject of a City Council hearing set for 10 a.m. Sept. 12 at City Hall.
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Ft. Greene Focus: Slamming Hiring Practices As Unfair, Brooklyn Leaders Call For Reform
Ft. Greene Focus — Slamming current hiring practices as unjust, area leaders are pushing for new city laws that would prevent employers from immediately asking about an applicant’s arrest history, as well as ban employment credit checks.
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CNBC: Confusion Still Surrounds Overdraft Policies
CNBC — Checking accounts—and the debit cards that come with them—should be a simple and straightforward way to handle routine financial transactions. And yet, many people simply don’t understand the overdraft policies at their bank or credit union.
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Queens Ledger: Students Fight to Keep Credit Checks Out of the Hiring Process
Queens Ledger — Queens College students held a rally last week on the campus to garner further City Council support for a two-year-old fight to stop credit checks as part of the employment process in New York City.