News & Events
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New Analysis Shows Banks Drained $1.7 Billion in Fees From New Yorkers’ Accounts During Pandemic
Today, members of the Public Bank NYC coalition held a news conference at the “Charging Bull” sculpture to call out Wall Street for mauling New Yorkers with predatory fees during the COVID-19 pandemic, and to call on Albany to pass the “NY Public Banking Act.”
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Gotham Gazette Op-Ed: New York City Gets Back in Bed with a Bad Bank — But There’s a Better Way
Gotham Gazette- Reopening the door to Wells Fargo suggests that city officials have not learned the lessons of the past year, or decades. In the face of New York’s severe affordable housing shortage, climate devastation, and extreme racial wealth inequality—all exacerbated by COVID-19—we need bold action. A public bank would build wealth and power in…
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Racial & Economic Justice Groups Slam Mayor de Blasio’s Vote to Have NYC Resume Banking with Wells Fargo
Members of the Public Bank NYC coalition and the NYC Council slammed the NYC Banking Commission’s decision today to approve Wells Fargo’s request to resume holding New York City deposits – potentially billions of dollars. The Banking Commission – composed of the Mayor, Comptroller and Commissioner of Finance, and charged with selecting which banks may…
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Why NYC Must Say No to Wells Fargo and Yes to Public Banking
Today, an obscure public body, the NYC Banking Commission, will decide the fate of billions of public dollars when it meets to select which banks may hold the city’s cash for the next two years. The big question before the Commission is whether the city should resume banking with Wells Fargo after cutting ties with…
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The Capitol Pressroom: Creating an economy that works for all New Yorkers
New Economy Project founder and co-director Sarah Ludwig discusses a new state law protecting stimulus checks from debt collectors and makes the case for legislation enabling New York municipalities to create public banks.
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Joint Coalition Statement On The NY Public Banking Act
“The NYS Senate leadership missed a crucial opportunity to bring about a just recovery, when it suddenly removed the NY Public Banking Act from today’s Banks Committee agenda—despite Wall Street’s long legacy of extracting wealth from communities and redlining Black and brown neighborhoods.
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Statement on the enactment of S5923A/A6617A, exempting COVID-19 stimulus payments from debt collection
“Thanks to this important legislation, debt collectors are now prohibited from siphoning New Yorkers’ COVID-19 stimulus payments. The new law ensures that federal relief funds actually provide relief to New Yorkers, not windfalls for the debt collection industry. New Economy Project is proud to have worked on this crucial bill with ally organizations, as we…
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(Archive) Stop Debt Collectors from Taking NYers’ Stimulus Funds
The NYS Legislature has just passed a critical bill that prohibits debt collectors from taking New Yorkers’ stimulus payments. The bill will ensure that relief funds actually provide relief—not windfalls for the debt collection industry. Take Action! Urge Governor Cuomo to sign this bill into law, to protect New Yorkers from financial predation and ensure a just recovery. Call…
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Gotham Gazette: Competing Visions of Public Banking in New York City
Gotham Gazette — In recent memory public banking was an idea that belonged either to a distant utopian future or a distant populist past. But today, not only is public banking on the agenda of major New York politicians, but competing visions of public banking are on offer.
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New York CLTs Unite!
Community land trusts (CLTs) are on the rise across New York State, working to give communities control over land and housing. New Economy Project recently organized a virtual learning exchange for NYC Community Land Initiative members and two of our upstate CLT neighbors: City Roots CLT, in Rochester, and the Fruit Belt CLT, in Buffalo.