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Federal Judge Deals Major Blow to Predatory Fintech, Says “Earned Wage Access” Advances Are Payday Loans
Last week, a second federal court in New York joined a growing number of courts rejecting the fintech industry’s tired claim that so-called “earned wage access” (EWA) cash advances aren’t loans. In Freeman v. Bridge It, active-duty service members sued EWA company “Brigit” for making high-cost loans in violation of the federal Truth In Lending…
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Reclaiming Our Money, Reclaiming Our Power: Strategy and Solidarity at the Public Banking Convening
On May 20, advocates, organizers, and financial justice leaders from across the country came together in Washington, D.C., to mark the release of Public Banks for Racial Equity: Democratizing Finance to Build Community Wealth, a joint report from New Economy Project and Dēmos.
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Predatory Lending? There’s an App for That
By Andy Morrison New York stands at a crossroads in the fight against predatory lending. One path would open the floodgates to triple-digit interest loans—marketed as sleek, smartphone apps but designed to trap working people in debt. The other would strengthen the state’s centuries-old usury law and protect New Yorkers from a new wave of…
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Everybody’s Talking about the Community Land Act!
New Economy Project, along with NYC Community Land Initiative (NYCCLI) coalition allies and 150 endorsing organizations, are leading the charge for the Community Land Act – a package of bills that would help community land trusts (CLTs) bring more land and housing into permanently affordable community ownership. Close to two-thirds of City Council Members co-sponsor…
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Our Trailblazer in Law: An Interview with Susan Shin
Our Legal Director Susan Shin has been a force on New Economy Project’s legal advocacy team for over fifteen years – and this week, she was named to City & State’s inaugural Trailblazers in Law list.
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From Grassroots Organizing to Land Victories: New York’s Community Land Trust Movement Surges Forward
This September, New Economy Project co-sponsored two inspiring events that highlighted the community land trust (CLT) movement’s tremendous recent progress – and the urgent public policies needed to further bolster democratic control of land in New York City.
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“Never let a good crisis go to waste”
Interest in public banking has surged in the wake of the sudden collapse of Silicon Valley Bank and Signature Bank – the second and third largest bank failures in U.S. history – and it is easy to understand why.
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Fighting to Reverse New York Courts’ Erosion of People’s Basic Due Process Rights
Over the past two decades, debt buyers—companies that buy old debts for pennies on the dollar—have filed millions of debt collection lawsuits and obtained millions of default judgments, against low-income New Yorkers, mostly those in predominantly Black and brown neighborhoods.
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Roundup: Albany Day of Action for Public Banking & Housing Justice
New York’s 2023 legislative session is underway, and New Economy Project is working with groups statewide to advance a bold policy agenda that builds wealth and power in Black, brown, and immigrant communities.
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Tenant Takeover: How New Yorkers Are Organizing for Community and Resident Control
Learn how New Yorkers are organizing to collectively bring housing under community control.