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New Research Finds Big Banks Holding City Deposits Guilty of Modern Day Redlining
…The coalition called for the creation of a public bank to divest public money from banks that harm communities, and reinvest in community wealth-building and high-quality financial services in neighborhoods of color….
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Gothamist: NYC Deposits Billions in Big Banks That Lock Out Communities of Color, Report Finds
Gothamist — New York City is depositing billions of dollars in banking behemoths that make a fraction of their mortgage loans in communities of color across the five boroughs, according to a new analysis released on Thursday.
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A Vision for Economic Democracy: Public Banking Q&A with Economic Opportunity Funders
Economic Opportunity Funders presents a Q&A with New Economy Project, Demos, and Economic Security Project focused on the role of public options in an extractive economy and the work of advancing racial equity through economic policies and institutions.
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NY1 Inside City Hall: Report Finds Racial Disparities in Homeownership Across N.Y.
NY1 Inside City Hall — Deyanira Del Río, co-director of New Economy Project, joined NY1 political anchor Errol Louis to discuss a new report released by state Attorney General Letitia James’ office that finds deep racial disparities among homeowners across New York.
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New Research Shows Nonprofits Vastly Outdid For-Profits in Creation of Deeply Affordable Housing
As New Yorkers grapple with skyrocketing rents and homelessness, more than 20 community, affordable housing, and environmental justice groups joined local elected officials to rally at City Hall in support of the Community Land Act – a set of bills to bring land and housing into permanently-affordable community control, through community land trusts (CLTs) and…
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Vice: NYC Is Giving Public Lands to For-Profit Developers That Price Out Locals, Report Finds
Vice — New York City is giving away public lands to for-profit developers that build housing units largely unaffordable to locals, a new report has found.
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Court Grants Final Approval of Settlement in Class Action Lawsuit Reining In NYC Transit Authority’s Unfair Collection Practices
A federal court granted final approval of a settlement in a class action lawsuit charging the New York City Transit Authority (NYCTA), an arm of the Metropolitan Transportation Authority (MTA), with aggressively going after thousands of New Yorkers for alleged debts in violation of their constitutional due process rights.
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Brooklyn Daily Eagle: Systemic Racism in New York’s Housing Market Has Cost Minorities More Than $200 Million
Brooklyn Daily Eagle — A new report released by New York Attorney General Letitia James exposes profound systemic racism within New York’s housing market that causes disparities in homeownership rates and mortgage lending practices, revealing a system that has failed communities of color for decades.
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Attorney General James Highlights Deep Racial Gaps in Homeownership Across New York
New York Attorney General Letitia James released a new report today detailing deep racial disparities in homeownership and access to home financing across the state. Among the report’s top findings is a stark racial gap in homeownership rates in every region in New York, with white households owning their homes at nearly double the rate of households…
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Statement from the NYS Community Equity Agenda Coalition on Today’s Oral Arguments in SCOTUS Case on CFPB Funding
Today, as the U.S. Supreme Court hears oral arguments in Consumer Financial Protection Bureau v. Community Financial Services Association of America, members of the New York State Community Equity Agenda coalition released the following statements:
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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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Brooklyn Reader: BK’s 4 Community Land Trusts Could Revolutionize Affordable Housing, Experts Say
Brookyln Reader — Community land trusts are expanding across the city, and during a panel at Pratt Institute last week, local leaders in the movement said the trend could mean big things for affordable housing in Brooklyn’s communities of color.