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racial justice
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BK Reader: Three Banks Charged NYC Black Homeowners Higher Mortgage Rates, Report Says
BK Reader — A recent analysis by the nonprofit New Economy Project found that home mortgage lending by Bank of America, Citibank and JPMorgan Chase—which hold the vast majority of New York City’s municipal deposits— charged higher interest rates to people of color between 2018 to 2023.
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The City: Black Home Mortgage Borrowers Pay More in NYC, New Study Finds
The City — Three major banks charged Black homeowners in New York City more interest on their mortgages than they did white borrowers, according to a new analysis of loan data by The New Economy Project, a racial and economic justice advocacy group.
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Analysis: Fed Rate Cuts May Exacerbate Racial Wealth Inequality Due to Persistent Mortgage Lending Disparities
As the Federal Reserve lowers interest rates, many borrowers stand to benefit—particularly White homeowners and homebuyers, who already benefit from lower average interest rates compared to people of color. By contrast, Black borrowers who face persistent barriers to fair lending could be left out in the cold, unable to access more favorable interest rates…
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New York Law Journal – Commentary: Give New Yorkers a Consumer Protection Law They Can Actually Use
New York should pass the Consumer and Small business Protection Act as an urgent matter of racial and economic justice, writes Susan Shin, New Economy Project’s Legal Director, and Claudia Wilner, director of litigation and advocacy at the National Center for Law and Economic Justice.
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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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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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Testimony Submitted to NYC Racial Justice Commission: Public Land in Public Hands
New York City must transform its approach to land use by directing public land to resident-controlled community land trusts (CLTs) and other community- based nonprofits that commit to a) permanent affordability of land and housing and b) meaningful tenant and community control.
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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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Robinson v. New York City Transit Authority et al.
UPDATE: On October 31, 2023, the Court granted final approval of a settlement requiring the NYC Transit Authority to provide access to crucial information so that New Yorkers facing alleged transit debt can meaningfully assert their rights. Read the basic terms of the final settlement here, and read the press release here. In February…