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payday lending
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Press Release: NY Labor & Community Groups Endorse CFPB Rule To Crack Down on Predatory Paycheck Advance Loans
Groups called on New York regulators to aggressively enforce the state’s usury Law and take action against predatory fintech companies that exploit workers.
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Testimony Before the NYS Assembly on the “Impact of Financial Technology (Fintech) and its Role in New York’s Banking Industry”
View PDF TESTIMONY OF ANDY MORRISON, ASSOCIATE DIRECTOR ON BEHALF OF NEW ECONOMY PROJECT BEFORE THE NYS ASSEMBLY STANDING COMMITTEES ON BANKS AND SCIENCE AND TECHNOLOGY “IMPACT OF FINANCIAL TECHNOLOGY (FINTECH) AND ITS ROLE IN NEW YORK’S BANKING INDUSTRY” March 7, 2024 Good morning, Chairs Hunter and Otis and members of the committees. Thank you…
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News Release: NY/NJ Banking Committee Chairs, Groups, Decry Trump Proposal to Unleash Payday Lending
Today, chairs of New York and New Jersey’s Senate and Assembly banking committees and community leaders blasted the Trump administration’s proposal to allow predatory lenders to circumvent state usury laws and contravene the authority of state elected officials.
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Comment Letter Opposing Trump Administration’s Proposed “True Lender” Rule
New Economy Project writes to register its vehement opposition to the Office of the Comptroller of the Currency’s proposed “true lender” rule. In one fell swoop, the proposal would effectively obliterate New York’s longstanding usury laws and legalize, for the first time in our state’s history, predatory payday lending. The proposed rule is consistent with…
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(Archive) Stop Trump Administration from Unleashing Predatory Payday Lending in NY
New York has successfully fought to keep predatory payday lending out of our state, as a matter of racial and economic justice. Now, the Trump administration is seeking to gut New York’s longstanding consumer protection laws, and open the door to high-cost lenders that exploit people who are struggling financially.
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Greetings from Paydayfreelandia!
WASHINGTON, D.C. – Today advocates from states across the country that ban predatory payday lending voiced strong opposition to the Consumer Financial Protection Bureau (CFPB)’s actions to gut federal rules to curb predatory payday lending.
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WBAI Morning Show
WBAI Morning Show — Our Campaigns Director Andy Morrison joins host Michael G. Haskins to discuss efforts to end predatory lending, strengthen community-based financial cooperatives, and establish public banking in NYC.
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New York Representatives Vote to Weaken New York’s Limits on High-Cost Loans
Last night, Representatives Gregory Meeks (D-NY-5) and Tom Suozzi (D-NY-3) broke with the rest of the state’s Democrats and joined New York’s Republican members of the U.S. House of Representatives in voting to pass a bill, H.R. 3299, that would allow lenders to launder loans through banks to override limits in New York and other…
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Kansas City Star: CFPB drops Kansas payday lending case, stoking fears Trump is backing off the industry
Kansas City Star — Without explanation, the Consumer Financial Protection Bureau has dropped a lawsuit in Kansas it had filed a year ago against four payday lending companies.
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2017 Roundup
Check out this two-page snapshot highlighting some of New Economy Project’s work, events, and media coverage during 2017!