News & Events
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1,000+ New Yorkers Gather for Urgent Town Hall Calling for Public Banking to Ensure a Just COVID-19 Recovery
New York, NY – Yesterday, a broad coalition of community, labor, cooperative, environmental and economic justice groups convened a virtual town hall highlighting public banking as an essential strategy for ensuring a just COVID-19 recovery. The timely event, entitled “From Crisis to Recovery: NY’s Fight for Public Banking,” engaged more than 1,000 New Yorkers and…
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The City: Debt Collectors Freeze Funds of New Yorkers Struggling in Pandemic
The City — As the coronavirus crisis unfolded in New York, Robert McNamara thought he should take some money out of the bank, just to be safe. On March 19, the substitute teacher and father of two figured he’d be out of work for a while. Public schools had just closed, possibly for the rest…
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Law 360: Virus Sparks Calls To Pump The Brakes On Debt Suits
Law 360 — As the COVID-19 pandemic continues to envelop the country, some consumer advocates are calling for greater protections for consumers until the crisis abates, arguing that the economic crisis is negatively impacting the ability of Americans to not only pay their debts but also fight collection actions in court.
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ProPublica: Coronavirus Put Her Out of Work, Then Debt Collectors Froze Her Savings Account
ProPublica — Late last month, Kim Boatswain sat down at her computer in her southeast Austin home and logged into her credit union account. Her bills and mortgage were coming due soon, and she needed to move money from her savings to checking so she could pay them.
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Shareholders Charge Citibank with Exacerbating the COVID-19 Crisis and Fueling Climate Change, at Annual Meeting
At Citigroup’s “2020 Annual Stockholders’ Meeting” today, New Economy Project will confront Citi executives about the bank’s undisclosed funding of corporate lobbying by the U.S. Chamber of Commerce and other industry associations. The group will challenge Citi for supporting destructive lobbying agendas that further jeopardize public health during the COVID-19 crisis and that fuel climate…
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Citigroup 2020 Shareholder Proposal Number 7
Stockholder Proposal #7 Presented at Citigroup’s 2020 Annual Stockholder’s Virtual Meeting New Economy Project and co-filers (School Sisters of Notre Dame Cooperative Investment Fund; LGPS Central Limited; and Greater Manchester Pension Fund) have submitted the following proposal for consideration at the 2020 Annual Meeting: Whereas, full disclosure of Citigroup’s direct and indirect lobbying activities and…
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Statement on Attorney General James’ Guidance Blocking Banks And Debt Collectors From Garnishing Stimulus Checks
“We applaud Attorney General James for issuing strong guidance making clear that emergency stimulus payments authorized by the CARES Act are exempt from garnishment under New York law. Her commitment to aggressively prosecute any creditor or debt collector that garnishes New Yorkers’ stimulus payments is an example of the kind of leadership we need from…
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CBS News: Debt collectors are going after Americans’ stimulus checks—and the CARES Act allows it
CBS News — The U.S. Treasury is sending out 80 million stimulus checks this week, the first part of its effort to put cash into Americans’ hands to ride out the coronavirus pandemic. But many of those checks will never reach the people they’re intended for.
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Gothamist: “Backdoor Bailout For Banks”: Stimulus Checks Can Be Seized By Creditors And Banks
Gothamist — The $1,200 stimulus checks that began hitting millions of Americans’ bank accounts on Wednesday could turn into a “backdoor bailout” for banks and creditors—which can currently seize the payments for individuals’ existing debt under a loophole the Treasury Department has not yet addressed.
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Call Off The Debt Collectors: The Coronavirus Pandemic is No Time to Demand Payment and Freeze Bank Accounts
In the best of times, predatory debt collection is a scourge that siphons wealth from New Yorkers, destabilizes neighborhoods and perpetuates racial and economic inequality. Amid the COVID-19 pandemic, allowing debt collectors to continue to hound New Yorkers and take their money is jeopardizing people’s lives.