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Daily News: Redlining and Predatory Lending Persist in New York’s Communities of Color
Daily News — “There’s a serious lack of brick-and-mortar branches in communities of color. That means people are once again denied access to banking services. The same problems with redlining are persisting,” says Josh Zinner, co-director of the New Economy Project, a leading advocacy group.
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Wall Street Journal: An SUV, a Loan and a Lawsuit
Wall Street Journal — Olga Arroyo said she went to an auto dealership in the Bronx last year planning to cosign a car loan for her 39-year-old son. But the 56-year-old Manhattan resident, who has good credit but monthly income of only $1,354 in Social Security benefits, said she unwittingly left with a $51,000 car…
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The Nation: New York City Just Outlawed Running Credit Checks on Job Applicants
The Nation — The legislation, which passed last Thursday following an extensive grassroots campaign by local and national labor and community groups, restricts a boss, prospective employer or agency from “us[ing] an individual’s consumer credit history in making employment decisions.”
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Wall Street Journal: City Acts to Limit Credit Checks
Wall Street Journal — New York City is one step from enacting a ban that would prevent employers from using credit checks to screen job applicants, which the sponsor of the measure says is the most far-reaching in the nation.
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City Limits: Advocates Hail NYC Credit-Check Ban as Strongest in the U.S.
City Limits — Intro. 261, sponsored by Brooklyn’s Brad Lander, would make it illegal for an employer, labor organization, employment agency or licensing agency to ask for or use “information contained in the consumer credit history of an applicant for employment” or make any decisions on hiring, firing, promoting or paying a person based on…
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NY1: Councilman, Expert Discuss Legislation to Ban Employment Credit Checks
NY1 — New Economy Project’s Sarah Ludwig joins Councilmember Brad Lander to discuss the city’s plan to pass legislation banning the discriminatory practice of employment credit checks.
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Daily News: City Will Ban Employers from Viewing Credit History of Prospective Workers
New York Daily News — The City Council is expected to pass a bill Thursday that will make it illegal for employers to check job-seekers’ credit history, officials told the Daily News.
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Majority Leader Morelle and Senator Gallivan to Sponsor A.G. Schneiderman’s Payroll Card Act
Assembly Majority Leader Morelle and Senator Gallivan, Press Release — Attorney General Eric T. Schneiderman today announced that Assembly Majority Leader Joseph Morelle and Senator Patrick Gallivan will sponsor the Attorney General’s program bill regulating the use of payroll cards to increase protections for workers, clarify ambiguities in the law, and ensure that payroll cards…
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Nasdaq: Credit Reports to Raise Standards to Improve Accuracy
Nasdaq — “Problems with credit reports routinely block people’s access to housing and jobs, particularly low income people and people of color,” said Susan Shin, senior staff attorney at the New Economy Project…
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New York Observer: Minority Groups Rally Outside Fed Against Interest Rate Hike
New York Observer — Minority activist organizations demonstrated in the snow outside the Federal Reserve Bank of New York, insisting that the institution keep interest rates low until stubbornly high unemployment rates in nonwhite communities drop further.
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The Capitol Pressroom: New Yorkers for Responsible Lending Coalition in Albany
Capital Pressroom — New Economy Project’s Susan Shin and Franklin Romeo, Director of the Homeowner & Consumer Rights Project at Queens Legal Services, discuss economic justice in NY’s debt collection and mortgage/foreclosure policies with Susan Arbetter on WCNY Radio.
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Law360: Class Cert. Upheld In Leucadia ‘Default Judgment Mill’ Row
Law360 — The Second Circuit upheld class certification for more than 100,000 consumer debtors who allegedly fell prey to a fraudulent debt-collection default judgment scheme by a Leucadia National Corp. debt-buying affiliate and its law firm and process server, finding Tuesday that common issues predominated.