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financial justice
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Amsterdam News: Harlem mother’s court victory opens door to challenge unconstitutional debt collection tactic targeting Black and brown New Yorkers
The experience of a Harlem mom has opened the door to helping others who were targeted by an unconstitutional debt collection tactic.
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Advocates Win Far-Reaching Appellate Court Victory Challenging Abusive Debt Collection
Advocates won a unanimous decision in the Appellate Division, First Department, upending over a decade of bad case law that enabled unscrupulous debt collectors to extract massive amounts of wealth from low-income neighborhoods. The decision will rein in widespread debt collection schemes to fraudulently garnish wages and freeze bank accounts in violation of New Yorkers’ constitutional due process…
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New Economy Appeals Court Ruling that Harms NYer and Stacks Deck in Favor of Predatory Debt Collectors
A debt collector obtained a default judgment against Sharae Banks through fraud, falsely claiming that it had properly notified her when it sued her years earlier. A lower court then barred Ms. Banks from challenging the default judgment, upholding the debt collector’s blatant violations of her basic due process rights. New Economy Project has filed…
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American Banker: New York City Tightens Eligibility for Banks Holding its Deposits
American Banker — New York City will now require banks that want to hold city deposits to provide detailed plans about what they’re doing to root out discrimination in their lending and employment practices.
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Economic Justice Group Files Federal Lawsuit Against Debt Collection Law Firm Notorious for Predatory Practices
New Economy Project and co-counsel at The Law Office of Ahmad Keshavarz filed a federal lawsuit this month, on behalf of Bronx resident Jose Crespo, against Gutman, Mintz, Baker, and Sonnenfeldt (GMBS), a Long Island-based debt collection law firm that has for years engaged in predatory and unlawful practices that harm low-income New Yorkers.
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The City: Will NYC Bar Wells Fargo From Municipal Deposits After Alleged Discrimination Against Black Homeowners?
The City — Mayor Eric Adams and Comptroller Brad Lander are facing calls from progressive advocates to cut off Wells Fargo’s ability to hold municipal deposits following allegations of racial discrimination.
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Testimony Before NYS Senate Committees, on Effective Economic Development Strategies
New York’s approach to economic development desperately needs a reboot. We spend billions of dollars annually on wasteful corporate subsidies and tax giveaways – in the process diverting much-needed resources from higher education, transit, health care and other investments that would advance equity and economic opportunity in low-income neighborhoods and communities of color.
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NY State of Politics: Supporters Push for Public Banking Bill to Aid Underserved Communities
NY State of Politics — Advocates on Tuesday began another push to approve a measure creating a regulatory system for public banks in New York state in order to bring more financial institutions to underserved communities.
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Brooklyn Eagle: Tax Lien Sales Hurt Communities, Says Coalition
Brooklyn Eagle — The city is missing an opportunity to create affordable housing, claims the Abolish the NYC Tax Lien Sale Coalition, making its statement ahead of the city’s tax lien sale this Friday.
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Next City: Why Activists Are Pushing NYC to End Its Tax Lien Sale
Next City — Marcus is a disabled, 66 year-old Vietnam war veteran. He lives in a house in the East New York neighborhood of Brooklyn that has been in his family since the 1960’s. An only child, he inherited the home when his parents passed, his only piece of generational wealth. But after falling behind…