In response to the banking crisis sending shockwaves through the economy, a statewide coalition delivered a letter to NYS Senate Majority Leader Andrea Stewart-Cousins and NYS Assembly Speaker Carl Heastie urging passage of the New York Public Banking Act to “give local governments a sorely-needed ‘public option’ for holding public deposits.” The bill would create a safe and appropriate regulatory framework for public banks – financial institutions created by local governments and chartered to serve the public interest.
Today, elected officials, including City Comptroller Brand Lander, Manhattan Borough President Mark Levine, and members of the City Council, joined the Public Bank NYC coalition for a spirited press conference calling on the state to enact legislation opening the way for public banking in New York City.
Ahead of City Council oversight hearing, legislation sponsors, NYC Community Land Initiative, Housing Justice For All, and non-profit affordable housing developers made the case for transformative social housing bills
Albany, NY – Today, dozens of New Yorkers from across the state rallied with legislators at the New York State Capitol Building, urging swift passage of the “New York Public Banking Act” (S1754/A3352) this legislative session.
Flushing, NY – More than 50 Queens residents filled the Free Synagogue of Flushing Wednesday evening for a community forum on public banking, sponsored by NYS Assemblymember Ron T. Kim and the Public Bank NYC coalition. At the forum, speakers representing MinKwon Center for Community Action, New Economy Project, and the New York Public Interest Research Group (NYPIRG) […]
City and State officials, including NYC Public Advocate Jumaane D. Williams, NYS Senator Jabari Brisport, and NYS Assemblymember Yuh-Line Niou, joined community, labor, and cooperative organizations to present “awards” to New York City’s “Worst Banks of 2022.”
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.
New Economy Project and co-counsel at The Law Office of Ahmad Keshavarz filed a federal lawsuit this month, on behalf of Bronx resident Jose Crespo, against Gutman, Mintz, Baker, and Sonnenfeldt (GMBS), a Long Island-based debt collection law firm that has for years engaged in predatory and unlawful practices that harm low-income New Yorkers.
A new report from Demos and New Economy Project calls on New York City to establish a public bank to divest city dollars from Wall Street and channel capital to Black and brown communities to promote racial equity and a just recovery.
Today, 82 local elected officials from 19 cities and counties across New York State delivered a letter to Governor Hochul, Senate Majority Leader Stewart-Cousins, and Assembly Speaker Heastie, urging enactment of the “New York Public Banking Act” (S1762A/A5782) before the end of this year’s legislative session in early June.