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NYC Public Advocate: PA James Unveils the Money Behind New York’s Worst Landlords
NYC Public Advocate, Press Release — Public Advocate Letitia James unveiled the ten banks that loan to the most buildings owned by the City’s Worst Landlord Watchlist. She called on these banks to reform their lending practices to protect tenants.
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Gothamist: NYC Just Made Its Biggest Commitment Ever To A Radical Affordable Housing Model
Gothamist — City Hall is slowly starting to invest in an affordable housing model that can permanently remove parcels of land from the speculative housing market in rapidly gentrifying neighborhoods.
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City Limits: City Dips Toe Into Funding Community Land Trusts
City Limits — Four New York City groups will receive a total of $1.65 million in funds from state bank settlements to assist in the development or expansion of community land trusts, the Department of Housing Preservation and Development (HPD) announced today.
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Gothamist: Rogue Democrats Could Be Trying To Open New York Up To Payday Lenders
Gothamist — Payday loans are a poverty trap, a way to get the poor and desperate locked into a cycle of debt that traps them under an ever-increasing pile of high interest loans that they can’t pay back. Because of their nefarious nature, New York and 14 other states have banned such loans.
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NY1: Bad Credit
Road to City Hall — New Economy Project’s Sarah Ludwig and Deyanira Del Rio discuss a new proposal in Albany that threatens NYS’ protections against exploitative lending.
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Daily News: De Blasio, Stringer Announce City to Cut Ties with Wells Fargo
Daily News — The city will stop depositing its cash at Wells Fargo, after the bank got in hot water with the feds for discriminatory lending, Mayor de Blasio and City Controller Scott Stringer announced Wednesday.
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Daily News: Wells Fargo Scandal May Force New York City to Find New Bank
Daily News — Wells Fargo — embroiled in a scandal over the creation of up to 2 million fake accounts — was knocked down to a “needs improvement” rating by federal regulators in March under the Community Reinvestment Act, citing an extensive pattern of discriminatory and illegal lending practices. New York City rules say that…
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Philadelphia Inquirer: JPMorgan Boss: ‘Trump is Our Pilot’ Even When We Disagree
Philadelphia Inquirer — Andy Morrison, campaigns director for the New Economy Project in New York, accused Dimon and his bank of making large financial contributions to U.S. Rep. Jeb Hensarling, R-Texas, and other members of Congress who want to stop or restrict the federal Consumer Financial Protection Bureau and other government agencies that have punished…
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New York Times: Profits From Store-Branded Credit Cards Hide Depth of Retailers’ Troubles
New York Times — Department stores and big name retailers are increasingly making the hard sell to sign up customers for credit cards at the register. The store cards promise deep discounts on clothing, furniture and electronics, and are tough for shoppers to resist.
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Know Your Rights: What About My Money?
As federal actions threaten immigrants’ rights and economic security, immigrant New Yorkers are rightly concerned about how to protect themselves and their families. Here, you’ll find answers to frequently asked questions about immigrants’ financial rights, based on current laws and information.
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El Diario: Conozca Sus Derechos – ¿Qué pasa con mi dinero?
El Diario — Mientras acciones federales amenazan los derechos y la seguridad económica de comunidades inmigrantes, los neoyorquinos inmigrantes están enfocándose en cómo protegerse a sí mismos y a sus familias.
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City Limits, Op-Ed: State Board’s Decision Leaves Low-Wage Workers in Peril
City Limits, Op-Ed — Hundreds of thousands of working New Yorkers just had the rug pulled out from under them. The New York State Department of Labor’s (DOL) long-awaited rules on payroll cards were scheduled to take effect this month.