CDFIs
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NowThis News: AOC Calls Out Colleagues for Banking Bill Comments
Our co-director Deyanira Del Río testifies before the U.S. House Financial Services Committee, Subcommittee on Consumer Protection and Financial Institutions, and answers questions from Representative Alexandria Ocasio-Cortez.
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Let’s Be Real Episode 11: New York State Community Equity Agenda Pt.1
The next four episodes of Let’s Be Real focus on the NYS Community Equity Agenda, a statewide coalition that is calling for economic development that is community-led and grounded in community wealth-building and racial and economic justice. Each episode zooms in on an Equity Agenda priority, from promoting community-controlled financial institutions to ending wealth extraction…
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Daily News: Southeast Queens, Hungry for Opportunity: The Predominantly Black Middle-Class Swath of the City Can’t Get Banking Services
Daily News — Families and businesses in southeast Queens are being shunned by the banking system, possibly in violation of federal law. And that makes Rep. Gregory Meeks furious.
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Testimony Before the U.S. House Committee on Financial Services Task Force on Financial Technology
My testimony today is informed by more than two decades of work with low-income New Yorkers and community groups to challenge systemic discrimination by Wall Street banks and other financial corporations, and to support responsible, cooperative, and community development finance.
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Next City: New York’s Best Kept Secret to Support Community Financial Institutions
Next City — One evening last September, at Brooklyn Cooperative Federal Credit Union’s main branch in Bed-Stuy, the credit union staff hosted a town hall to walk members through the credit union’s balance sheet — deposits, loans, other investments, capital reserves. CEO Samira Rajan emphasized the credit union’s key ratios, like its net worth ratio…
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City Limits: NY Can Reduce Redlining’s Residue by Backing Credit Unions
City Limits, Op-ed by Yuh-Line Niou and Maureen Genna — A Bloomberg report this month showed that the largest banks in the U.S., led by JPMorgan Chase, are closing branches rapidly in poor neighborhoods, even as they open new ones in affluent communities. In other news: water is wet.
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Brooklyn Daily Eagle: Brooklyn Facing Crisis in Housing Theft and Foreclosures, Advocates Say
Brooklyn Daily News — As real estate values in Brooklyn have gone through the roof, homeowners in gentrifying black and brown communities in the borough are increasingly being targeted by housing predators, legislators were told on Friday at Brooklyn Borough Hall.
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The Laura Flanders Show: NYC Organizers Say #NOHQ2 and Win
The Laura Flanders Show — Our Juleon Robinson joins Maritza Silva-Farrell from ALIGN NY and Sasha Wijeyeratne from CAAAV to discuss a cooperative, community-led vision for economic development in New York.
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Daily News: Immigration Groups Say They Won’t Recommend IDNYC to Clients if Financial Smart Chip Plan Moves Forward
Daily News — Advocacy groups will no longer recommend that undocumented immigrants get a municipal I.D. card if the city goes forward with plans to add a financial services smart-chip to them, several said Monday.
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Let’s Be Real Episode 7: Organizing For Community Control, a Conversation with Linda Levy
When the last remaining bank branch on the Lower East Side closed its doors in 1986, local activists took matters into their own hands and organized to establish a non-profit financial cooperative, the Lower East Side People’s Federal Credit Union.