The City — New Yorkers facing down private debts in court will see some relief after advocates pushed Gov. Andrew Cuomo to put all collections on pause amid the coronavirus crisis.
The City — Gov. Andrew Cuomo has paused the collection of medical and student debt owed to New York State, ordered evictions halted and put a 90-day stay on mortgage payments and foreclosures for owners facing financial hardship.
Daily News — Families and businesses in southeast Queens are being shunned by the banking system, possibly in violation of federal law. And that makes Rep. Gregory Meeks furious.
How will the state help address “public deserts”? Deyanira Del Río, Co-Director of the New Economy Project, and Andy Morrison, Campaigns Director for the New Economy Project, discussed the push for public banks.
Gothamist — A Brooklyn state senator is drafting a bill that would give tenants priority to buy their landlord’s building should the property go up for sale.
The Real Deal — Landlords who want out of the multifamily market after last year’s rent-law shakeup should have to offer their buildings to tenants first, a Democratic state senator says.
Roll Call — At some uncertain point in the future, printing cash may be a waste of money. As Americans increasingly rely on credit cards, online transfers, mobile apps and cryptocurrencies to complete transactions, a House panel debated Thursday the promise and potential pitfalls of a cashless society.
Bloomberg Law — Debt collectors can be downright mean when going after people who owe money, but this one appeared to have reached a new low—the caller threatened to get the debtor deported.
Next City — One evening last September, at Brooklyn Cooperative Federal Credit Union’s main branch in Bed-Stuy, the credit union staff hosted a town hall to walk members through the credit union’s balance sheet — deposits, loans, other investments, capital reserves. CEO Samira Rajan emphasized the credit union’s key ratios, like its net worth ratio — capital reserves to total assets.
Next City — It’s a sunny August Saturday in Far Rockaway, and New York State Senator James Sanders Jr. could hardly be more in his element. He’s riding high, not only on his parade float leading the 3rd Annual Carnival in the Rockaways, but also in his relatively new position as chair of the NY State Senate Committee on Banks.