Yes! — With $10 trillion in assets at their collective disposal, big banks like Chase and Wells Fargo could do a lot of good. Yet, despite being “too big to fail,” these banks fail people every day. Whether it’s the persistent use of predatory practices, their enduring discrimination, or their insistent investment in exploitative and extractive industries, these formidable financial institutions have a corrosive influence on our country.

As this year’s corporate-sponsored “Climate Week NYC” sputters on, New Economy Project and the Public Bank NYC coalition released an analysis estimating that NYC’s financial investments and cash deposits in big banks generate 757 kilotons of greenhouse gas emissions (GHG)* annually. This previously unreported figure would represent the second largest source of GHG emissions by sector in city government, if accounted for in the City’s GHG inventory, according to the analysis.

City & State NY — Over the past decade in New York City, a housing shortage, increased investor activity and quickly rising home prices have exacerbated the affordable housing crisis. Today, there are almost no apartments with a monthly rent below $1,500 in the city. Housing advocates and policymakers have been pushing the city to invest in different housing models that prioritize affordability over profit.