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In the News
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BK Reader: Three Banks Charged NYC Black Homeowners Higher Mortgage Rates, Report Says
BK Reader — A recent analysis by the nonprofit New Economy Project found that home mortgage lending by Bank of America, Citibank and JPMorgan Chase—which hold the vast majority of New York City’s municipal deposits— charged higher interest rates to people of color between 2018 to 2023.
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The City: Black Home Mortgage Borrowers Pay More in NYC, New Study Finds
The City — Three major banks charged Black homeowners in New York City more interest on their mortgages than they did white borrowers, according to a new analysis of loan data by The New Economy Project, a racial and economic justice advocacy group.
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WBAI’s Living for the City: Predatory Lending
WBAI’s Living for the City — Our associate director Andy Morrison discusses fintech, Earned Wage Access apps, and a proposal to end these forms of predatory payday lending in New York.
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The American Prospect: The Push for Public Banking in New York
The American Prospect — Rochester, New York, has become a focal point in the movement for public banking, a push driven by the urgent need to address poverty and economic inequities in the region. The city, one of New York’s largest, with around 210,000 residents, is more than 40 percent white, nearly 40 percent African…
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The City: Council and Mayor Move to Revive Stalled Property Tax Debt Collections
The City — The City Council is resurrecting a system to collect unpaid property taxes after a nearly three-year hiatus, adding new safeguards for vulnerable owners.
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American City and County: City of Rochester Mulls a Groundbreaking Move: Creating its Own Bank
American City and County — Legislation currently under consideration could pave the way for Rochester, N.Y., to establish its own public bank, the first of its kind in New York State.
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News10 NBC: Consumer Alert: CEO Says a Public Bank Would Allow her Credit Union to Help More Low-Income Borrowers
News10 NBC — It is the 11th hour. State legislators were likely drinking caffeine by the gallon Friday night as they tried to get bills passed before the session ended. One of those bills would establish a public bank in Rochester. It’s a concept I shared with you on Tuesday, and supporters say it would be…
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NYN Media: New York Can Make History With a Rochester Public Bank (Opinion)
NYN Media — The Legislature is poised to approve a groundbreaking bill that would bring public banking to New York – a major step toward building a just, transparent, and accountable financial system. Lawmakers must not waver in the face of inevitable backlash from the banking lobby.
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Spectrum News: Public Banking in New York
Spectrum News — Tousif Ahsan, Public Banking Campaign Organizer at New Economy Project, talks to Spectrum News about the potential of public banking in New York.
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New York State of Politics: Bill Would Establish Public Banking in New York, Starting in Rochester
New York State of Politics — A push is on to introduce public banking in New York state, and start the trend in Rochester. While a bill to allow municipalities to start their own public banks has floated around for several years, a focus on the Flower City is gaining traction.