Gotham Gazette — In the wake of the COVID-19 pandemic, New York faces two new fronts in its housing crisis — a wave of heightened speculation likely to destabilize communities and an onslaught of expected evictions as housing courts reopen.
City Limits — Now is the time to create a public banking system as the city prepares for deep budget cuts amid an inequitable economic crisis stemming from the Coronavirus pandemic, advocates testified Wednesday.
ProPublica — Since 2018, Capital One has been a looming presence in Julio Lugo’s life, ever since the company sued him, as it did 29,000 other New Yorkers that year, over an unpaid credit card. But when the coronavirus hit the city this March, it wasn’t on his mind.
The City — Marc Davis was set to get $168 back from the state in his tax refund this year. And the 53-year-old Bronx resident says that money would have gone a long way to keeping him on his feet.
The City — As the coronavirus crisis unfolded in New York, Robert McNamara thought he should take some money out of the bank, just to be safe.
On March 19, the substitute teacher and father of two figured he’d be out of work for a while. Public schools had just closed, possibly for the rest of the spring. Plus, with big swings on the stock market, he wanted a bit of cash on hand.
Law 360 — As the COVID-19 pandemic continues to envelop the country, some consumer advocates are calling for greater protections for consumers until the crisis abates, arguing that the economic crisis is negatively impacting the ability of Americans to not only pay their debts but also fight collection actions in court.
ProPublica — Late last month, Kim Boatswain sat down at her computer in her southeast Austin home and logged into her credit union account. Her bills and mortgage were coming due soon, and she needed to move money from her savings to checking so she could pay them.
CBS News — The U.S. Treasury is sending out 80 million stimulus checks this week, the first part of its effort to put cash into Americans’ hands to ride out the coronavirus pandemic. But many of those checks will never reach the people they’re intended for.
Gothamist — The $1,200 stimulus checks that began hitting millions of Americans’ bank accounts on Wednesday could turn into a “backdoor bailout” for banks and creditors—which can currently seize the payments for individuals’ existing debt under a loophole the Treasury Department has not yet addressed.
Daily News, Op-Ed — In the best of times, predatory debt collection is a scourge that siphons wealth from New Yorkers, destabilizes neighborhoods and perpetuates racial and economic inequality. Amid the COVID-19 pandemic, allowing debt collectors to continue to hound New Yorkers and take their money is jeopardizing people’s lives.