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Spectrum News: Local Officials in New York Call for Public Banking Bill
Spectrum News — A bill that would enable the creation of public banks in New York has won the backing of dozens of local elected officials in 19 cities.
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Community Groups, Elected Officials Rally at City Hall for Community Land Trust Funding, Legislation to Stabilize Housing and Combat Speculation
Community and housing activists joined Council Member Carlina Rivera and Council Member Sandy Nurse, Comptroller Brad Lander, and other elected officials at a rally at City Hall to call for increased support for community land trusts (CLTs), to shield land and housing from speculation in the wake of the pandemic. Groups called for strong public…
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The City: Will NYC Bar Wells Fargo From Municipal Deposits After Alleged Discrimination Against Black Homeowners?
The City — Mayor Eric Adams and Comptroller Brad Lander are facing calls from progressive advocates to cut off Wells Fargo’s ability to hold municipal deposits following allegations of racial discrimination.
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Albany Times-Union: Commentary: Invest Equitably in our Communities with Public Banking
Albany Times-Union — This budget season, there’s been a lot of talk about investing in New York’s future. Citing better-than-expected tax receipts and a wealth of federal stimulus funds, Gov. Kathy Hochul recently declared, “This is a once-in-a-generation opportunity to make thoughtful, purpose-driven investments in our state and in our people that will pay dividends…
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CNBC: She Lost Everything in a Fire. Then her Bank Froze the Savings she Needed to Move On
CNBC — Siraba Keita survived New York’s deadliest fire in decades — only to see her bank freeze the savings she needed to pick up the pieces.
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Spring Briefing for Supporters
Thanks to everyone who attended our spring briefing for New Economy Project’s community of supporters! Check out video of the event here.
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Harlem World: Activists And Electeds Cheer End Of The Rudy Giuliani Created NYC Tax Lien Sale
Harlem World — Today, activists and elected advocates gathered on the steps of City Hall to celebrate the end of the Rudy Giuliani-created Lien Sale program. Since 1996, New York City has been selling the right to collect delinquent property tax and water debt at a discount to a privately administered hedge fund-backed Lien Trust.
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City Limits: As NYC Considers Scrapping Tax Lien Sale, Land Trust Plan Gains Steam
City Limits — New York City’s most recent property tax lien sale may be its last as momentum grows for a new debt collection model—including a plan to cut out private firms, reduce penalties and empower community land trusts.
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The Baffler: Lien On Me
The Baffler — Debra Ack was running out of time. On December 17, New York City would transfer over a hundred million dollars of publicly held debt into private hands—and many of those affected didn’t even know about it. That’s why Ack, along with other volunteers from the East New York Community Land Trust (CLT),…
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Groups Urge NY Senate to Oppose Gov. Hochul’s Nomination for Supt. of Financial Services, as Confirmation Process Begins
As the New York Senate prepares for hearings this week on Governor Hochul’s nomination of Adrienne Harris for Superintendent of the NYS Department of Financial Services, racial and economic justice groups delivered a letter to Majority Leader Andrea Stewart-Cousins, urging the Senate to conduct a rigorous examination of Ms. Harris’ record and experience.
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NY State of Politics: Supporters Push for Public Banking Bill to Aid Underserved Communities
NY State of Politics — Advocates on Tuesday began another push to approve a measure creating a regulatory system for public banks in New York state in order to bring more financial institutions to underserved communities.