Press Releases

At the JPMorgan Chase shareholder meeting today in Plano, Texas, New Economy Project presented an analysis of Chase’s track record of harming New Yorkers and New York City neighborhoods. The group’s analysis highlighted a litany of discriminatory and abusive practices by the bank, from longstanding mortgage redlining to siphoning of sorely-needed funds from Chase’s lowest-income customers – ultimately driving people out of mainstream banking.

Today, tipped wage workers, advocates, and labor leaders held a kick-off event with and elected officials to call for One Fair Wage in New York. The One Fair Wage (OFW) campaign is fighting for better wages, better tips and represents a next step in the Fight For 15 to cover tipped workers left behind, as part of the ongoing movement forward. Seven states already pay tipped workers a basic minimum wage in addition to their tips: New York could be next.

We are dismayed that the New York Fed appears poised to appoint a new president through a reportedly closed process, without meaningful consideration of public input. Given the vital role of the New York Fed president and all that is at stake with this appointment, New Economy Project calls on the Fed to pursue an open, transparent process for selecting its next president, even if this means going back to square one.

Last night, Representatives Gregory Meeks (D-NY-5) and Tom Suozzi (D-NY-3) broke with the rest of the state’s Democrats and joined New York’s Republican members of the U.S. House of Representatives in voting to pass a bill, H.R. 3299, that would allow lenders to launder loans through banks to override limits in New York and other states on high-cost loans, potentially paving the way for loans of up to 300 percent APR in states where those rates are prohibited.

We support the rights of DREAMers – and all immigrants – to live with dignity and justice. In the face of this attack, we are immediately expanding our NYC DREAMer Loan Fund. Over the next month, we will make 0% interest loans, and a limited number of grants, to cover DACA renewal fees for eligible NYC residents – who must apply to USCIS by October 5, 2017.

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.