News & Events

News10 NBC — It is the 11th hour. State legislators were likely drinking caffeine by the gallon Friday night as they tried to get bills passed before the session ended. One of those bills would establish a public bank in Rochester.  It’s a concept I shared with you on Tuesday, and supporters say it would be the vehicle through which the more people of color could get loans.

Albany, NY – Today, five leading good government and labor groups announced their support of the Bank of Rochester Act (S9326/A10134), which would authorize Rochester to establish a public bank to hold government deposits and reinvest in local economic development. AFSCME NY, CWA District 1, New Yorkers for Fiscal Fairness, NYPIRG, and Strong Economy for All argue the bill represents the kind of accountable economic development that the state should support, as opposed to massive corporate giveaways that often fail to deliver on their promises.

Today, the NYS Community Equity Agenda coalition released a striking analysis and map of home mortgage data in Monroe County, revealing severe racial disparities and continued redlining. The findings highlight the urgent need for the Bank of Rochester Act, a bill currently under consideration in the state legislature. Sponsored by state Senator Samra Brouk and Assemblyman Harry Bronson, the bill would authorize the establishment of a municipal public bank in Rochester – the first full-fledged public bank in the U.S. in over a century.

On Thursday, more than 50 community, housing, and environmental justice groups and elected officials rallied at City Hall for enactment of the Community Opportunity to Purchase Act (COPA), which would give community land trusts (CLTs) and other nonprofits a first right to bid on multifamily buildings when a landlord sells. COPA – which was reintroduced at Thursday’s City Council stated meeting – is part of the Community Land Act, a slate of bills backed by 150+ groups that would dramatically expand the supply of permanently affordable, community- and tenant-controlled housing.