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In the News
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The City: Pushback Grows as Council and Mayor Hash Out Deal to Revive Property Debt Sell-Off
The City — With Mayor Eric Adams’ administration and the City Council in talks to revive a controversial property tax-collection program that died more than two years ago, some community advocates are pushing to keep the tax lien sales system in the ground.
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New York Law Journal – Commentary: Give New Yorkers a Consumer Protection Law They Can Actually Use
New York should pass the Consumer and Small business Protection Act as an urgent matter of racial and economic justice, writes Susan Shin, New Economy Project’s Legal Director, and Claudia Wilner, director of litigation and advocacy at the National Center for Law and Economic Justice.
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Gothamist: Want to own your NYC apartment? This nonprofit is helping renters buy their units.
How would you like to own your apartment after years of renting? The East New York Community Land Trust bought a 21-unit, rent-stabilized apartment building on Arlington Avenue for just over $3 million late last month and plans to help tenants convert to co-op units in the coming years.
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Law.com: NY Lawmakers Eye Bolstering Regulatory Framework for Fintech
Andy Morrison, associate director of the New Economy Project, said there’s an urgent need for New York to advance structural reforms that close loopholes to the state’s usury law that are exploited by fintech and other predatory lenders.
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The Village Sun: Taking it to the banks – Tran tenants demand to meet with ‘bad landlord”s underwriters
Tenants of real estate mogul Sonny Tran are demanding meetings with two banks — Dime and Modern — that have underwritten his local building purchases and what rent-stabilized tenants describe as a siege of potentially illegal construction and dangerous living conditions. The two banks are on the city’s list of designated banks, and organizers also…
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Amsterdam News: AM Mitaynes makes another push to pass TOPA housing law
The Tenant Opportunity to Purchase Act (TOPA) is a solution to maintaining affordable housing stock amid a housing crisis throughout the state, advocates say. The act gives tenants the chance to make an offer on a building before a landlord sells to an outside party.
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News12: Local leaders launch campaign to pass Tenant Opportunity to Purchase Act
Community groups and elected officials are kicking off a campaign to pass the Tenant Opportunity to Purchase Act, or TOPA.
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New York Focus: Hochul Sparks Outcry With Proposed Cash Transfer From Legal Aid Fund
The Interest on Lawyer Account provides tens of millions of dollars to fund legal help for New Yorkers who can’t afford it, According to the fund’s director, however, Hochul’s budget proposal would remove about a third of the cash it has available, imperiling its financial health. Legal organizations that benefit from its grants warn they…
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News12: New Economy Project report uncovering disparities in banking prompts calls for public bank in New York City
A recent report by the New Economy Project has shed light on major disparities in banking practices within New York City, revealing that big banks holding public money have been investing unfairly, particularly leaving neighborhoods of color behind. The nonprofit, along with state and local coalitions, have been actively educating the public on the benefits…
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Public News Service: Proposed overdraft-fees rule would benefit NYers
The Consumer Financial Protection Bureau is proposing a rule on overdraft fees that would benefit New Yorkers. The rule closes a loophole exempting overdraft fees from provisions in the Truth in Lending Act.