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public banking
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Amid Federal Disinvestment and Regulatory Rollbacks, New York Coalition Calls for Public Banks to Spur Local Investment
Community groups, labor unions, credit unions and elected officials from across the state rallied at the New York State Capitol to demand legislative action on public banking.
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Putting CLTs on the Map, Public Banking Push, Fighting Debt-Trap Apps, and More!
New Economy Project is digging deep with coalition allies across New York—fighting back against federal attacks and advancing bold, systems-changing solutions rooted in racial and economic justice.
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The Wave: State Senate Banks Committee Holds Hearing on Discrimination in NY’s Mortgage Industry
The Wave — The New York State Senate Banks Committee, chaired by NYS Senator James Sanders Jr., held a public hearing earlier this month to examine potential discrimination in New York’s home mortgage banking industry. The hearing brought together key stakeholders, including government officials, financial regulators, industry representatives, and consumer advocates, to address concerns regarding…
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Survey: New Yorkers Support Public Banking by 8:1 Margin
A new statewide survey from the Community Service Society (CSS) shows 62% of NYC residents support public banking, compared to just 8% opposed—a nearly 8:1 margin, the highest in the state. Support for public banking is strong across all regions in New York, underscoring a growing urgency to reclaim public money for the public good.
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Testimony Before the NYS Senate Banks Committee on “Is There Discrimination in the New York Home Mortgage Banking Industry?”
Good afternoon, Chair Sanders, Members of the Banks Committee, and esteemed legislators. Thank you for the opportunity to testify today on behalf of New Economy Project, a New York City-based economic justice organization. For 30 years, New Economy Project has worked with community groups and low-income New Yorkers to challenge bank redlining, predatory lending and…
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Elected Officials, Community Groups Rally for Public Banks, Slam Commercial Banks for Fueling Racial Wealth Gap
On Tuesday, a statewide coalition of community and labor groups and community credit unions rallied with elected officials at the Legislative Office Building in Albany, calling on New York State to take urgently needed action on lending discrimination and create public banks to ensure fair lending and economic justice for all New Yorkers.
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Statement: Groups Condemn Trump’s Dismantling of CFPB, Call on NY Leaders to Act
The 50+ member organizations of the NYS Community Equity Agenda, representing hundreds of thousands of New Yorkers statewide, made the following statement responding to the Trump Administration’s assault on the Consumer Financial Protection Bureau (CFPB)—and urging New York leaders to take bold action to protect New Yorkers and New York communities from financial exploitation
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Demos: Public Banks for Public Good: Transformative Investments to Help Close the Racial Wealth Gap
Demos — For decades, the racial wealth gap has persisted, with the median white family now holding more than six times the wealth of the median Black family in the U.S. Evidence has long shown that commercial banks perpetuate this divide through discrimination and predatory practices. But growing support for public banks—financial institutions created by local governments and…
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Nonprofit Quarterly: What Does Finance for the People Look Like?
Nonprofit Quarterly — The seeds of a financial system that works for the public are already all around us, from credit unions and loan funds to community bonds and Green Banks. Public banks—created by governments and chartered to serve the public interest—offer a powerful model to advance racial equity, public accountability, and community self-determination.
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New York Amsterdam News: Discriminatory lending practices that target Black homebuyers persist in NYC
According to a report by New Economy Project, Black and Brown home buyers continue to face discriminatory lending practices and higher interest rates in comparison to white homebuyers.