Resources
-
Testimony Before the NYC Banking Commission
New Economy Project and the Public Bank NYC Coalition call on the Banking Commission to reject the banks that have applied for designated status today, due to their egregious track record of redlining Black and brown neighborhoods and engaging in discriminatory lending practices. Furthermore, we call on members of the Banking Commission to actively support…
-
Letter in Support of CFPB Overdraft Lending Rule
We write in strong support of the Consumer Financial Protection Bureau’s (CFPB) proposed rule governing Overdraft Lending: Very Large Financial Institutions. The proposed rule is a crucial step toward addressing abusive and predatory financial practices that extract wealth from low-income neighborhoods and Black and brown communities.
-
Testimony Before the NYS Assembly on the “Impact of Financial Technology (Fintech) and its Role in New York’s Banking Industry”
Today’s hearing on the impact of financial technology within New York’s banking sector presents a vital opportunity to begin reshaping our state’s approach to financial services policy and economic justice. My testimony will address the dangers posed by predatory financial technology, or ‘fintech,’ and the urgent need for New York State to advance structural reforms.…
-
Testimony of the NYS Community Equity Agenda Coalition’s Workplace Democracy Working Group for the Joint Legislative Budget Hearing on Economic Development
In this year’s budget, New York has a tremendous opportunity – thanks to federal funding made available through the Worker Ownership, Readiness, and Knowledge (WORK) Act – to align with 22 other states by establishing a NYS Worker Ownership Center. The WORK Act is a new federal law designed to support the growth of worker-owned…
-
Letter to Governor Hochul Regarding NYS Community Development Financial Institution Fund
We, the undersigned labor and community groups and Community Development Financial Institutions (CDFIs), write to urge you to take immediate actions, as outlined below, to repair and restore the NYS CDFI Fund to its intended purpose.
-
Testimony Before the NYS Senate Standing Committee on Banks, Regarding Failure of Signature Bank
Today’s hearing poses two urgent questions for New York State policymakers: “Why did Signature Bank fail?” and “What can be done to prevent future bank failures in New York?” My testimony primarily will focus on how public banking can strengthen New York’s financial sector in ways that promote responsible lending, equitable reinvestment, and racial and…
-
Testimony Before the NYC Banking Commission
Where the City places its public deposits is a fundamental matter of public concern. Our testimony will focus on how the City should use its considerable leverage to ensure that our public money works for the public good.
-
Joint Letter to Mayor Adams and Speaker Adams in Support of the Community Land Act
The undersigned 113 organizations call on you to enact the Community Land Act, an urgently-needed set of bills that gives community land trusts (CLTs) and other nonprofits tools to develop and preserve permanently-affordable housing, community and commercial space, and other neighborhood assets. By taking land off the speculative market, CLTs protect public investment in affordable…
-
Memorandum in Opposition to A5053 (Vanel)
We write to express our strong opposition to A5053, an act relating to regulating so-called earned wage advance (“EWA”) services. This bill is a direct threat to New York’s long-standing usury protections and would authorize predatory loan products, undermining consumer and worker protections and exacerbating wealth extraction from our state’s low income communities and communities…
-
CLTs Gaining Ground in NYC
Over the past fifteen years, New York City’s CLT movement has grown significantly. Amidst the city’s growing housing affordability and homelessness crises, several grassroots movements coalesced around CLTs. We collaborated with the Pratt Center for Community Development to showcase the powerful and growing movement for CLTs in NYC.