News & Events

New Economy Project is looking for an energetic and committed Community Organizer to help build a transformative, grassroots movement for economic democracy and racial and economic justice in NYC.

Road to City Hall — New Economy Project’s Sarah Ludwig and Deyanira Del Rio discuss a new proposal in Albany that threatens NYS’ protections against exploitative lending.

New York City Council Members and community organizations sent a strongly-worded letter to the NYC Mayor Bill de Blasio, Comptroller Scott Stringer, and Commissioner of Finance Jacques Jiha, urging them to divest the City from Wells Fargo Bank, in which New York City reportedly has hundreds of millions of dollars in public funds on deposit.

Daily News — Wells Fargo — embroiled in a scandal over the creation of up to 2 million fake accounts — was knocked down to a “needs improvement” rating by federal regulators in March under the Community Reinvestment Act, citing an extensive pattern of discriminatory and illegal lending practices. New York City rules say that in order to be designated to get government deposits, a bank must have at least a “satisfactory” rating.

Philadelphia Inquirer — Andy Morrison, campaigns director for the New Economy Project in New York, accused Dimon and his bank of making large financial contributions to U.S. Rep. Jeb Hensarling, R-Texas, and other members of Congress who want to stop or restrict the federal Consumer Financial Protection Bureau and other government agencies that have punished JPMorgan for ripping off borrowers.