Resources
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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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Prage v. Kavulich & Associates
In April 2016, New Economy Project filed a federal lawsuit against the debt collection law firm Kavulich and Associates on behalf of Romain Prage, a low-income New Yorker. The lawsuit alleges that Kavulich violated federal debt collection and state consumer protection laws, and explicitly subverted New York’s Exempt Income Protection Act. Mr. Prage is seeking…
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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.
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New Economy Project comment letter to CFPB on proposed payday lending rule
We urge the CFPB to issue a strong final rule that, once and for all, stops payday and other high cost lenders from ensnaring people and their families in a debt trap. With its ever-growing wealth and income gaps, our country cannot afford to suffer the disastrous effects of a too-moderate rule that would allow…
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New York comment letter to CFPB on proposed payday lending rule
We, the 131 signatories to this letter, represent a diverse cross-section of elected officials, government, labor, grassroots organizing, civil rights, legal services, faith-based and other community organizations, as well as community development financial institutions. We respectfully request that the CFPB count this letter as 131 comments.
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PaydayFreeLandia comment to CFPB on proposed payday lending rule
Organizations based in the 14 states, plus the District of Columbia, where payday lending is prohibited by state law, urge the CFPB to issue a final rule that will bolster states’ efforts to enforce their usury and other consumer protection laws against payday lenders, debt collectors, and other actors that seek to make, collect, or…
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Testimony before the New York City Council Housing & Buildings Committee
New Economy Project Staff Attorney Eve Weissman testifies in support of legislation that would identify underutilized property in NYC that should be tapped to create deeply and permanently affordable housing, and to serve other community uses such as open, cultural and commercial space.
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NEW ECONOMY PROJECT CALLS ON CFPB TO CRACK DOWN ON ABUSIVE DEBT COLLECTION INDUSTRY
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, legal director at New Economy Project, based in New York City.
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Testimony before the Consumer Financial Protection Bureau, on abusive debt collection
New Economy Project’s legal director, Susan Shin, testified before the Consumer Financial Protection Bureau on how debt collectors routinely engage in rampant fraud and systematically use the courts to extract billions of dollars from low-income people and people of color.
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Memo in Opposition to A.9635/S.6985, Legislation that Would Allow Check Cashers to Make Loans
New Economy Project opposes A.9634/S.6985, which would permit New York check cashers to make loans. The bill would allow check cashers, which have no experience as lenders, to make loans to New Yorkers and small businesses in New York, without ensuring the safety and soundness of those loans. By allowing an unprecedented and unwarranted expansion…