News & Events
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Capital Tonight: Sen. James Sanders’ Public Banking Bill: How it Could Work in New York
Capital Tonight — For decades, many banks in the U.S. denied mortgages to people of color based strictly on race or the neighborhood where they lived. The practice, which started in the 1930s, was called red-lining and it was backed by the U.S. government. It’s one of the reasons that black families lost out on…
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Spectrum News: Debt Collectors Would Be Barred From Taking COVID-19 Stimulus Money
Spectrum News — Consumer groups are applauding a bill that is meant to keep debt collectors from garnishing the stimulus payments and other direct aid approved by the federal government to offset the financial strain created by the pandemic.
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Statement on the Passage of S5923A/A6617A, Exempting Stimulus Payments from Debt Collection
“We applaud Senator Kevin Thomas, Assemblymember Helene E. Weinstein and the entire NYS Legislature for taking bold legislative action to exempt from collection all COVID-19 stimulus relief payments…”
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City Limits: Council Weighs ‘Public Banking’ Bills as Advocates Push City to Divest from Corporate Banks
City Limits — The City Council’s finance committee took up a slate of bills Wednesday that aim to increase public transparency around where the city does its banking—what advocates say would be the “first key steps” towards starting a public bank in New York City.
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As NYC Council Holds Hearing on Groundbreaking Public Banking Bills, New Analysis Shows NYC’S ‘Designated Banks’ Extracted $5 Billion in Predatory Overdraft Fees During COVID-19
As the NYC Council’s Committee on Finance held its first hearing on a package of bills laying groundwork for a municipal bank, the Public Bank NYC coalition released new findings showing NYC’s “Designated Banks” – those authorized to hold municipal deposits – exacted more than $5 billion in predatory overdraft fees in 2020, as the COVID-19 pandemic…
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NY State of Politics: Why Lawmakers Want to Create Public Banks
NY State of Politics — State lawmakers in New York want to lay down the regulatory framework for municipalities to create local public banks in order to extend and expand access to communities of color in the post-COVID-19 economy.
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NYS Legislators, Groups Call for Local Public Banks to Help Lead Recovery, Advance Racial and Economic Justice
Today, community, labor, and cooperative groups from across the state joined NYS Senate Banks Chair James Sanders Jr. and NYS Assembly Banks Chair Victor M. Pichardo to rally for the “New York Public Banking Act” (S1762A/A5782). The bill creates a regulatory framework for New York cities, counties and regions seeking to establish local public banks—financial…
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Strong, Prosperous, And Resilient Communities Challenge: Community Ownership Collaborations for Resilience and Impact
This report from the Strong, Prosperous, And Resilient Communities Challenge (SPARCC) examines successful community ownership strategies across the United States, including the work of New Economy Project and the New York City Community Land Initiative (NYCCLI) to expand community land trusts in NYC.
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The Appeal: New York City Considers a Bold Idea to Keep People From Being Pushed Out of Their Homes
The Appeal — Across New York State, millions of tenants are at risk of eviction and property values are falling. A recent analysis found that New York City renters in neighborhoods hit hardest by COVID-19—largely Black and Latinx communities—face nearly four times the number of eviction cases as less hard-hit areas. Local housing justice advocates fear a repeat of the…