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Comments on the NYC Commission on Human Rights’ proposed rules on the Stop Credit Discrimination in Employment Act
New Economy Project submitted comments to the NYC Commission on Human Rights regarding its proposed rules implementing the Stop Credit Discrimination in Employment Act (SCDEA) of 2015. Our organization spearheaded the community-labor-civil rights coalition that successfully pressed NYC to ban employment credit checks, as a matter of racial and economic justice, and we applaud the…
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Letter from 310 Community, Civil Rights, Labor & Other Groups in Support of CFPB’s Rule Banning Forced Arbitration
New Economy Project joined hundreds of groups from across the country to support the Consumer Financial Protection Bureau’s ban on mandatory arbitration clauses. The rule will restore people’s ability to band together in court to pursue claims, is a significant step forward in the ongoing fight to curb predatory practices in consumer financial products and…
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Comment Letter to NYS Department of Financial Services on Proposed Rule on Discrimination in Car Insurance Pricing
For years, car insurance companies have systematically discriminated against New Yorkers of color, lower-income New Yorkers, immigrants, and women, overcharging them for car insurance on the basis of non-driving-related factors, including their occupations and education levels. New Economy Project urges the NYS Department of Financial Services to issue a strong final rule that bans this…
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Memo in opposition to proposed legislation regarding payment of wages by use of payroll cards (S.5208-A/A.6771-A)
New Economy Project opposes the proposed bill, which fails to adequately protect workers from unfair fees and other abusive payroll card practices. Indeed, the bill would directly undercut NYS Department of Labor’s (DOL) strong payroll card regulations, adopted last year, which community, labor, consumer, and civil rights groups across the state have enthusiastically supported.
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Memo in Support of the “Climate and Community Protection Act of 2017” (A. 8270/S. 6617)
Climate change is one of the gravest challenges facing our state and our country. While climate change impacts everyone, it has had a particularly devastating impact on New York’s low-income, of-color, immigrant, and other vulnerable communities.
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Letter urging NYC to Remove Wells Fargo from City’s List of Designated Banks
The undersigned elected officials and organizations call on you as members of the New York City Banking Commission to remove Wells Fargo Bank from the City’s list of designated banks. As you may know, Wells Fargo’s federal regulator, the Office of the Comptroller of the Currency (OCC), recently downgraded the bank’s CRA rating to “Needs…
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Memo in Opposition to An Act to Amend the Banking Law, in Relation to Conduit Services (S.6121/A.7907)
This bill would allow check cashers to partner with out-of-state and nationally-chartered banks to facilitate loans in excess of New York’s usury laws.
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Memo in Opposition: “Credit Creation Pilot Program Act” (S.5771/A.6511)
The bill would blast a hole in our vital state usury laws, which serve as a crucial bulwark against high-cost and predatory lending. The bill would jeopardize financial security for struggling New Yorkers, particularly low-income immigrants and people of color.
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Testimony before NYS Senate and Assembly committees, regarding online lending
We are extremely concerned about new attempts to undermine our state’s strong consumer protection laws – this time by online lenders that seek to circumvent or diminish our state’s usury laws, firmly on New York’s books since colonial days. We see a clear need for increased consumer protections in the online lending space, and to…
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Testimony before U.S. Senate Committee on Banking, Housing, and Urban Affairs, on the role of financial companies
New Economy Project Co-Director Deyanira Del Rio testifies before the U.S. Senate Committee on Banking, Housing, and Urban Affairs, on “Fostering Economic Growth: The Role of Financial Companies.”
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New Economy Projects Joins 246 Groups from Across Country in Opposing National Banking Charter for Financial Technology Companies
New Economy Project joined 246 consumer, civil rights, and community groups in a letter to the Office of the Comptroller of the Currency (OCC) expressing strong opposition to its proposed new federal nonbank lending charters that would enable lenders to avoid state interest rate caps, other state protections, and state oversight.
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Comment Letter Opposing National Banking Charters for Financial Technology Firms
New Economy Project joined 43 other consumer- and social-justice organizations to urge the Office of the Comptroller of the Currency not to establish a new type of special purpose “national bank” charter for financial technology firms.