The decision by the Industrial Board of Appeals to revoke the New York State Department of Labor’s groundbreaking rule on payroll debit cards is a clear overreach by the IBA and a major setback for New York’s workers.
The PaydayFreeLandia coalition, representing 15 states , plus the District of Columbia, demanded today that the Office of the Comptroller of the Currency (OCC) back off a dangerous plan that would gut their states’ strong consumer protection laws.
Prominent New York City and State elected officials joined with labor, grassroots, civil rights, faith-based and legal services groups, as well as community development financial institutions, to send a strongly-worded letter on Friday to Consumer Financial Protection Bureau Director, Richard Cordray, calling on the federal watchdog agency to crack down on predatory payday lending.
Members of the PaydayFreeLandia coalition sent strongly-worded letters today to Consumer Financial Protection Bureau Director Richard Cordray, calling on the federal consumer watchdog agency to crack down on predatory payday lending.
Our organizations commend New York State Governor Cuomo and the NYS Department of Labor for adopting critical new payroll card regulations that protect workers’ hard-earned wages. An estimated 13,000 businesses in New York State pay approximately 200,000 workers through payroll cards. New York’s wage laws have not kept up with the proliferation of the cards, and studies have shown that low-wage workers often end up paying high and hidden fees to access their own wages, among other problems.
Debt collectors engage in rampant fraud and systematically use the courts to extract billions of dollars from low-income people and people of color, according to hard-hitting testimony delivered today by Susan Shin, New Economy Project’s legal director. Shin traveled to Sacramento, California to share our expertise from years of working with thousands of low-income New Yorkers aggrieved by discriminatory and abusive debt collection.
New Economy Project, Lower East Side People’s Federal Credit Union, MFY Legal Services, Inc., Westchester Residential Opportunities, Inc., and Western New York Law Center issued a statement regarding the NYS Senate’s confirmation of Maria T. Vullo as Superintendent of Financial Services, the state’s top financial regulator.
A coalition of two dozen faith leaders, and labor, civil rights, and community groups from states that ban payday lending hand-delivered strongly-worded letters to Consumer Financial Protection Bureau Director Richard Cordray on Wednesday, calling on the federal agency to “use its full authority” to crack down on predatory payday lending.
The Association for Neighborhood and Housing Development (ANHD), New Economy Project, Legal Services NYC, and the National Community Reinvestment Coalition (NCRC) are profoundly disappointed that a U.S. district court has ruled in favor of the banking industry in striking down the NYC Responsible Banking Act (RBA).
New Economy Project commends the Governor and NYS Department of Labor for advancing workers’ rights in New York State, by issuing strong proposed rules to regulate payroll cards.