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Majority Leader Morelle and Senator Gallivan to Sponsor A.G. Schneiderman’s Payroll Card Act
Assembly Majority Leader Morelle and Senator Gallivan, Press Release — Attorney General Eric T. Schneiderman today announced that Assembly Majority Leader Joseph Morelle and Senator Patrick Gallivan will sponsor the Attorney General’s program bill regulating the use of payroll cards to increase protections for workers, clarify ambiguities in the law, and ensure that payroll cards…
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Statement on CFPB Payday Lending Blueprint
Our organization has consistently urged the CFPB to set a high national bar for addressing predatory and exploitative payday lending. The CFPB’s blueprint indicates, however, that the agency is considering including glaring loopholes in its final payday lending rule, which would allow payday lenders continued latitude to make unaffordable high-cost loans. This approach is simply…
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Payday Lending Action Alert
Hey New Yorkers, don’t miss this Action Alert about big payday lending news from the Consumer Financial Protection Bureau. Lots at stake for New York… Get involved with the campaign for a strong payday lending rule by following the steps in the video!
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New Yorkers to CFPB: We need a strong payday lending rule!
This morning, New Economy Project hand-delivered a letter to Consumer Financial Protection Bureau (CFPB) Director Richard Cordray, calling on the CFPB to issue a strong payday lending rule that ends the payday loan debt trap once and for all.
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Nasdaq: Credit Reports to Raise Standards to Improve Accuracy
Nasdaq — “Problems with credit reports routinely block people’s access to housing and jobs, particularly low income people and people of color,” said Susan Shin, senior staff attorney at the New Economy Project…
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New York Observer: Minority Groups Rally Outside Fed Against Interest Rate Hike
New York Observer — Minority activist organizations demonstrated in the snow outside the Federal Reserve Bank of New York, insisting that the institution keep interest rates low until stubbornly high unemployment rates in nonwhite communities drop further.
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And Now for Some Good News
After years of hard-hitting advocacy by New Economy Project and allies, New York has implemented groundbreaking new debt collection rules, including some that go into effect today.
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The Capitol Pressroom: New Yorkers for Responsible Lending Coalition in Albany
Capital Pressroom — New Economy Project’s Susan Shin and Franklin Romeo, Director of the Homeowner & Consumer Rights Project at Queens Legal Services, discuss economic justice in NY’s debt collection and mortgage/foreclosure policies with Susan Arbetter on WCNY Radio.
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Law360: Class Cert. Upheld In Leucadia ‘Default Judgment Mill’ Row
Law360 — The Second Circuit upheld class certification for more than 100,000 consumer debtors who allegedly fell prey to a fraudulent debt-collection default judgment scheme by a Leucadia National Corp. debt-buying affiliate and its law firm and process server, finding Tuesday that common issues predominated.
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Small Loans, Big Impact
In 2008, at the peak of the foreclosure crisis, New Economy Project launched a foreclosure prevention loan fund that over the next five years helped almost 400 low-income New Yorkers avert foreclosure and keep their homes.
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Video: New York, We Got a (Housing) Problem
Posted by Monica Garcia — Have you heard the growing buzz around Community Land Trusts (CLTs)? Across the country, and right here in NYC, groups are coming together to promote CLTs as a way to create truly affordable housing, fight gentrification and give people a voice in how their neighborhoods are shaped.
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New York Times: Group Urges New York City to End Credit Checks by Employers
New York Times — New York City employers use credit checks to screen applicants for all sorts of jobs, like dog-walking and janitorial work. A coalition of municipal labor leaders, liberal advocates and left-leaning City Council members is seeking to end that practice, saying it disproportionately harms blacks and Hispanics without accurately predicting fraud or…