Resources

June

2024

18

Testimony before the New York City Council Committee on Finance, on Legislation to Reauthorize the City’s Tax Lien Sale

Good afternoon, Committee Chair Brannan and members of the Finance Committee, and thank you for the opportunity to testify about Introduction 2164, which would reauthorize New York City’s tax lien sale for a four year period. My name is Will Spisak and I am a Senior Program Associate at New Economy Project, a citywide organization that works with community groups to build a just economy based on cooperation, racial and neighborhood equity, and ecological sustainability.

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May

2024

28

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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May

2024

22

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, including Mayor Malik Evans and the entire Rochester City Council, who are united in their support for this bold and urgently needed venture.

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May

2024

14

Testimony to the NYC Council Finance Committee & Committee on Housing and Buildings

Good afternoon, Committee Chairs Brannan and Sanchez and members of the Finance and Housing Committees, and thank you for the opportunity to testify. My name is Will Spisak and I am a Senior Program Associate at New Economy Project, a citywide organization that works with community groups to build a just economy based on cooperation, racial and neighborhood equity, and ecological sustainability.

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May

2024

9

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 the establishment of a public bank in NYC.

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March

2024

8

Testimony Before the NYS Assembly on the “Impact of Financial Technology (Fintech) and its Role in New York’s Banking Industry”

Today’s hearing on the impact of financial technology within New York’s banking sector presents a vital opportunity to begin reshaping our state’s approach to financial services policy and economic justice. My testimony will address the dangers posed by predatory financial technology, or ‘fintech,’ and the urgent need for New York State to advance structural reforms. This includes closing loopholes in our usury law exploited by fintech companies and other predatory financial services companies, as well as supporting initiatives and institutions such as public banking and Community Development Financial Institutions (CDFIs) to expand access to equitable financial services in New York State.

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January

2024

31

Testimony of the NYS Community Equity Agenda Coalition’s Workplace Democracy Working Group for the Joint Legislative Budget Hearing on Economic Development

In this year’s budget, New York has a tremendous opportunity – thanks to federal funding made available through the Worker Ownership, Readiness, and Knowledge (WORK) Act – to align with 22 other states by establishing a NYS Worker Ownership Center. The WORK Act is a new federal law designed to support the growth of worker-owned businesses. It provides funding for states to establish centers to promote worker ownership.

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May

2023

30

Testimony Before the NYS Senate Standing Committee on Banks, Regarding Failure of Signature Bank

Today’s hearing poses two urgent questions for New York State policymakers: “Why did Signature Bank fail?” and “What can be done to prevent future bank failures in New York?” My testimony primarily will focus on how public banking can strengthen New York’s financial sector in ways that promote responsible lending, equitable reinvestment, and racial and economic justice.

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