July
2024
18
New Economy Project strongly supports the CFPB’s proposed rule cracking down on predatory payday loans, marketed through Earned Wage Access (EWA) phone apps. Financial technology (or fintech) companies use these insidious apps to prey on low-wage workers – peddling debt trap loans with interest rates as high as 300% or more.
July
2024
3
On Sunday, the City responded to years of relentless advocacy by the Abolish the Tax Lien Sale Coalition by enacting legislation to address the severe inequities caused by the city’s tax lien sale.
June
2024
5
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.
June
2024
5
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.
May
2024
16
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.
May
2024
15
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).
April
2024
18
On Thursday, more than 50 community, housing, and environmental justice groups and elected officials rallied at City Hall for the Community Land Act, a slate of local bills that would give community land trusts (CLTs) tools to remove land from the speculative market and expand community- and tenant-controlled permanently affordable housing in Black and brown neighborhoods. The action took place as Governor Hochul pushes a disastrous housing proposal that would embolden predatory landlords and exacerbate the displacement of low-income tenants.
February
2024
13
As soaring housing costs continue to push New Yorkers out of their neighborhoods and the state, members of the Housing Justice for All and New York City Community Land Initiative coalitions rallied with elected officials, tenants and other advocates on Thursday to demand passage of the Tenant Opportunity to Purchase Act (TOPA) in this year’s state legislative session. The rally followed on the heels of a new Community Service Society poll that found an overwhelming majority of New Yorkers support TOPA Legislation.
February
2024
8
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.
January
2024
18
“We applaud the CFPB for issuing a strong proposed rule to crack down on big banks’ predatory overdraft fees, which have long exploited low-income New Yorkers and extracted massive sums from low-income neighborhoods and communities of color…”