financial justice
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Coalition of 40+ Community & Labor Groups Releases 5-Point Platform for a Community-Led Recovery, Racial and Economic Justice in NY
CDFIs community equity agenda community land trusts financial justice public banking racial justice redliningThis afternoon the NYS Community Equity Agenda, a coalition of more than 40 community, labor, and civil rights groups, cooperative organizations, and community development financial institutions from across New York, released its policy priorities for 2022.
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WBAI: Living for the City
Our Andy Morrison joined WBAI’s Living for the City to discuss the movement for public banking, community land trusts, and more.
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Gotham Gazette Op-Ed: New York City Gets Back in Bed with a Bad Bank — But There’s a Better Way
Gotham Gazette- Reopening the door to Wells Fargo suggests that city officials have not learned the lessons of the past year, or decades. In the face of New York’s severe affordable housing shortage, climate devastation, and extreme racial wealth inequality—all exacerbated by COVID-19—we need bold action. A public bank would build wealth and power in…
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Racial & Economic Justice Groups Slam Mayor de Blasio’s Vote to Have NYC Resume Banking with Wells Fargo
Members of the Public Bank NYC coalition and the NYC Council slammed the NYC Banking Commission’s decision today to approve Wells Fargo’s request to resume holding New York City deposits – potentially billions of dollars. The Banking Commission – composed of the Mayor, Comptroller and Commissioner of Finance, and charged with selecting which banks may…
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Statement on the enactment of S5923A/A6617A, exempting COVID-19 stimulus payments from debt collection
“Thanks to this important legislation, debt collectors are now prohibited from siphoning New Yorkers’ COVID-19 stimulus payments. The new law ensures that federal relief funds actually provide relief to New Yorkers, not windfalls for the debt collection industry. New Economy Project is proud to have worked on this crucial bill with ally organizations, as we…
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(Archive) Stop Debt Collectors from Taking NYers’ Stimulus Funds
The NYS Legislature has just passed a critical bill that prohibits debt collectors from taking New Yorkers’ stimulus payments. The bill will ensure that relief funds actually provide relief—not windfalls for the debt collection industry. Take Action! Urge Governor Cuomo to sign this bill into law, to protect New Yorkers from financial predation and ensure a just recovery. Call…
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City Limits: Council Weighs ‘Public Banking’ Bills as Advocates Push City to Divest from Corporate Banks
City Limits — The City Council’s finance committee took up a slate of bills Wednesday that aim to increase public transparency around where the city does its banking—what advocates say would be the “first key steps” towards starting a public bank in New York City.
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How the MTA Targets Poor New Yorkers of Color to Collect on Old, Alleged Debts (Even During the Pandemic)
The pandemic has placed the MTA at the center of the news, but its violations of New Yorkers’ civil rights have gone on for years. Through our NYC Financial Justice Hotline, New Economy Project has helped dozens of New Yorkers presenting the same disturbing facts: Without any notice, MTA took their tax refunds to pay…
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NYC Council Lays Groundwork to Abolish Giuliani-Era Lien Sale
The City Council has passed legislation charting the course for ending New York City’s tax lien sale, and replacing it with an equitable municipal debt collection system that preserves affordable housing and stabilizes Black and brown NYC neighborhoods.
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Testimony Before the NYC Council Committee on Finance, on Reauthorization of the NYC Tax Lien Sale
We urge the Council not to introduce legislation reauthorizing the tax lien sale, and work with community partners, including community land trusts (CLTs), to develop an alternative and equitable system to address property tax arrears and, when appropriate, property disposition. The City’s practice of selling municipal debt to a private, investor-backed trust fuels speculation and…