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public banking
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Memorandum of Support: S9326/A10134
New Economy Project fully endorses the Bank of Rochester Act, which aligns with the broadly-supported New York Public Banking Act (S1754/A3352). We have long advocated for the establishment of local public banks, and we now urge the legislature to bring public banking to New York by passing the landmark Bank of Rochester Act this session.
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Coalitions’ Statement on Assembly Banks Committee’s Approval of Bank of Rochester Act
As leaders of New York’s powerful and growing public banking movement, we commend the NYS Assembly Banks Committee for responding to the urgent calls for public banking by approving the Bank of Rochester Act. We express our gratitude to Assemblymember Harry Bronson and Chair Pamela Hunter for prioritizing this bill and collaborating with Rochester officials,…
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New York State of Politics: Bill Would Establish Public Banking in New York, Starting in Rochester
New York State of Politics — A push is on to introduce public banking in New York state, and start the trend in Rochester. While a bill to allow municipalities to start their own public banks has floated around for several years, a focus on the Flower City is gaining traction.
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Groups, Electeds Hold Press Conference at Capitol, Calling on Albany to Bring Public Banking to New York
On Wednesday, lawmakers joined community and labor groups at the Capitol to demand Albany bring public banking to New York this legislative session. The coalition declared its strong support for a new bill, the Bank of Rochester Act (S9326/A10134) and continued to call for passage of the broadly-supported New York Public Banking Act (S1754/A3352).
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Testimony Before the NYC Banking Commission
New Economy Project and the Public Bank NYC Coalition call on the Banking Commission to reject the banks that have applied for designated status today, due to their egregious track record of redlining Black and brown neighborhoods and engaging in discriminatory lending practices. Furthermore, we call on members of the Banking Commission to actively support…
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The Village Sun: Taking it to the banks – Tran tenants demand to meet with ‘bad landlord”s underwriters
Tenants of real estate mogul Sonny Tran are demanding meetings with two banks — Dime and Modern — that have underwritten his local building purchases and what rent-stabilized tenants describe as a siege of potentially illegal construction and dangerous living conditions. The two banks are on the city’s list of designated banks, and organizers also…
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Public Bank NYC Coalition Renews Calls For Public Bank As City Council Member Keith Powers Reintroduces The People’s Bank Act
The People’s Bank Act, a package of bills that would lay the foundation for a public bank in New York City, was officially reintroduced today for the 2024-2025 New York City Council legislative session.
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News12: New Economy Project report uncovering disparities in banking prompts calls for public bank in New York City
A recent report by the New Economy Project has shed light on major disparities in banking practices within New York City, revealing that big banks holding public money have been investing unfairly, particularly leaving neighborhoods of color behind. The nonprofit, along with state and local coalitions, have been actively educating the public on the benefits…
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Public News Service: Report – Lenders don’t serve NYC Black, Brown communities equitably
An analysis of big banks in New York City contended they are perpetuating lending disparities—and called on the city and state to authorize the creation of a public bank.