Press Releases

Amazon’s decision to withdraw its proposed headquarters from Queens is a huge win for New Yorkers and New York communities, and should mark a dramatic turning point in New York’s approach to economic development.

The next DFS Superintendent must commit to taking bold action against financial companies that systematically exploit New Yorkers and extract wealth from New York communities. As the state’s chief regulator of the banking, insurance, check cashing, bail bond, and other financial industries, DFS has an obligation to advance racial, gender and economic justice. Given the Trump administration’s gutting of the federal Consumer Financial Protection Bureau and its ongoing attacks on immigrants, people of color and women, the need for a bold and resolute state financial regulator has never been clearer.

Our organizations support the concept of “postal banking,” as a potentially transformative form of public banking. As banks continue to redline New York neighborhoods — perpetuating poverty, inequality, and segregation — bold solutions like postal banking are clearly needed. Some recently-introduced proposals, however, would exacerbate our two-tiered financial system and promote debt as a solution to people’s financial struggles.

More than two of every five middle class New Yorkers in their 50s are headed for poverty or near-poverty in retirement. Typical workers in the bottom 90 percent of earnings will need almost a third more income in retirement to maintain their standard of living. And fewer workers of color have access to workplace retirement savings option than whites – escalating their potential for experiencing ‘downward mobility.’

As global leaders assemble for the United Nations-backed 4th Annual Climate Finance Day, New Yorkers, including representatives of environmental, community and student groups, rallied at City Hall and called on NYC to divest public money from banks that fuel climate change and to establish a municipal public bank to help fund the transition to a just, sustainable economy.

New York, NY — Today, leading New York organizations announced the New York Rise for Climate, Jobs, and Justice march on September 6 around the Global Climate Action Summit. At the Summit, state and local officials are expected to gather in San Francisco to make commitments and fill the void of climate leadership from the Trump administration. New Yorkers are urging Governor Andrew Cuomo, Mayor Bill de Blasio and elected officials at all levels to take bold and immediate action on climate change, create hundreds of thousands of good green jobs, and fight for justice for all New Yorkers.