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public banking
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Banking for the Public Good: Public Bank NYC
A new report from Demos and New Economy Project calls on New York City to establish a public bank to divest city dollars from Wall Street and channel capital to Black and brown communities to promote racial equity and a just recovery.
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Report: Public Banking Key to Building Community Wealth in New York City
A new report from Demos and New Economy Project calls on New York City to establish a public bank to divest city dollars from Wall Street and channel capital to Black and brown communities to promote racial equity and a just recovery.
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‘Public Bank’ Bill Blocked From State Senate Vote After Industry Pushback
The City — For the last four years, Queens State Senator James Sanders Jr. has pushed his colleagues in the New York legislature to greenlight public banks: local government-run financial institutions intended to extend credit and generate economic activity in low-income neighborhoods.
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Community and Labor Groups, Legislators Rally at Capitol for Passage of “New York Public Banking Act” to Advance Racial Equity and a Just Recovery
Today, community and labor groups from across the state rallied with legislators on the “Million Dollar Staircase” at the New York State Capitol Building, urging swift passage of the “New York Public Banking Act” (S1762B/A8290) this legislative session.
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EastNewYork.com: Goodbye Wells Fargo. Hello Public Banking.
EastNewYork.com — This month, Mayor Eric Adams and Comptroller Brad Lander vowed not to deposit city funds with Wells Fargo, following alarming reports that the bank rejected more mortgage refinancing applications from Black homeowners than it approved in 2020—denying hundreds of New Yorkers the opportunity to lock in lower interest rates and build generational wealth.
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80+ Local Electeds from Across New York Call on Albany to Enact “NY Public Banking Act” This Session
Today, 82 local elected officials from 19 cities and counties across New York State delivered a letter to Governor Hochul, Senate Majority Leader Stewart-Cousins, and Assembly Speaker Heastie, urging enactment of the “New York Public Banking Act” (S1762A/A5782) before the end of this year’s legislative session in early June.
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Spectrum News: Local Officials in New York Call for Public Banking Bill
Spectrum News — A bill that would enable the creation of public banks in New York has won the backing of dozens of local elected officials in 19 cities.
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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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Letter to NYC Public Banking Commission Calling for De-Designation of Wells Fargo
We, the undersigned 25 organizations, including members of the Public Bank NYC coalition, write to you in your roles as members of the NYC Banking Commission (“the Commission”) regarding the recent Bloomberg Businessweek investigation into Wells Fargo’s discriminatory mortgage lending practices.1 For the reasons outlined below, we call on the Commission to revoke unconditionally Wells…