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Victory for Workers: Press Statement on NYS Payroll Card Rules
Our organizations commend New York State Governor Cuomo and the NYS Department of Labor for adopting critical new payroll card regulations that protect workers’ hard-earned wages. An estimated 13,000 businesses in New York State pay approximately 200,000 workers through payroll cards. New York’s wage laws have not kept up with the proliferation of the cards,…
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New York Times: Workers Paid by Card Will Gain Protections in New York State
New York Times — Workers in New York State who receive their wages on prepaid cards will gain consumer protections next year that advocates say are among the strongest in the nation.
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NYS Governor’s Office: Governor Cuomo Enacts Country’s Most Comprehensive Worker Protections Against Hidden Payroll Card Fees
NYS Governor’s Office — New Payroll Card Regulations Issued By State Department of Labor Will Eliminate Costly Hidden Fees, Prohibit Employers from Receiving Kickbacks, Mandate Local Access to Fee-Less ATMs
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New York Post: Paying Off Debt is Stressing Out New Yorkers
New York Post — “I have personally spoken to thousands and thousands of New York City residents alone who are dealing with debt collection problems,” said Susan Shin, legal director at the New Economy Project, an advocacy group in New York that operates a hotline for troubled debtors.
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Inside Sources: Technology Pushes Banks Away From Branches as Federal Rules Keep Them Central
Inside Sources — For decades, when Americans have thought of banks they typically have in their mind a branch: tellers, an ATM outside, open 9-to-5, closed weekends. But as technology and markets have evolved, so have branches, creating tension between banks that want to change with the times and federal regulators who want to ensure…
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Center for Public Integrity: An Alleged Housing Scam Grows in Brooklyn
Center for Public Integrity — A housing scam alleged by Brooklyn Legal Services uses a map produced by New Economy Project to illustrate the concentration of suspicious property transactions in communities of color.
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2016 Workshop Series
Thanks to everyone who joined us for interactive workshops exploring strategies for building a just economy in New York City neighborhoods and beyond.
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New Economy Project Testifies at Federal Field Hearing that Debt Buyers Illegally Extract Billions of Dollars from Communities of Color
Debt collectors engage in rampant fraud and systematically use the courts to extract billions of dollars from low-income people and people of color, according to hard-hitting testimony delivered today by Susan Shin, New Economy Project’s legal director. Shin traveled to Sacramento, California to share our expertise from years of working with thousands of low-income New…
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New York Times: Debt Collectors’ Abuses Prompt Consumer Agency to Propose New Rules
New York Times — For the first time in nearly 40 years, federal regulators are preparing to significantly strengthen the rules that govern debt collection in an effort to clamp down on collectors who hound consumers for debts they may not even owe.
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Next City: Mapping a Neighborhood’s Financial Health
Next City — For 17 years and counting, Shelly Jones has been working at the credit union inside Union Settlement House on 104th Street in East Harlem. She’s been branch manager for the past seven.
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The Washington Post, Op-Ed: Here’s What Happens When Payday Loans are Banned
The Washington Post — Imagine a land with no payday loans. Flashing neon signs advertising “Fast Cash” no longer dot the landscape in low-income neighborhoods and communities of color, and nary a lender is permitted to extract interest rates of 400 percent and up.
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The Washington Post: Here’s What Happens When Payday Loans are Banned
Today’s The Washington Post features an Op-Ed by New Economy Project’s co-director Deyanira Del Rio and campaigns coordinator Andy Morrison: “Here’s What Happens When Payday Loans are Banned.” New York is one of 14 states that, along with D.C., maintain strong usury (interest rate) caps that effectively ban payday lending. It’s a swath of the…