Press Releases

November

2021

18

Statement from 25 New York Groups Calling on Gov. Hochul to Rescind DFS Nomination

The 25 undersigned New York-based organizations call on Governor Hochul to immediately rescind her nomination of Adrienne Harris for Superintendent of the NYS Department of Financial Services (DFS). Our organizations collectively represent millions of New Yorkers, from communities across the state. We see first-hand how DFS’s actions directly affect our members and all New Yorkers, as well as our neighborhoods and the state overall.

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July

2021

26

New Economy Project Testifies at Historic House Committee Hearing on Growing Public Banking Movement in NY

New Economy Project’s Co-Director, Deyanira Del Río, testified before the U.S. House Financial Services Committee’s Subcommittee on Consumer Protection and Financial Institutions last week on the growing movement for local public banking in New York. Rep. Alexandria Ocasio-Cortez, who spoke at the hearing—one of the first on public banking in modern American history—said it was a “historic day and a day worth celebrating.” 

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June

2021

29

Community Groups, Rep. Velázquez, Public Advocate Williams, Council Members Call for Full Funding of Community Land Trusts in NYC Budget

Community and housing activists joined elected officials at a rally at City Hall Park today, as they called for a just budget that includes $1.51 million for the Citywide Community Land Trust (CLT) Initiative to expand community control of land and housing in NYC’s Black, brown and immigrant communities. Funding will support 14 neighborhood-based CLTs organizing across the five boroughs, as well as four citywide technical support organizations.

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May

2021

27

Racial & Economic Justice Groups Slam Mayor de Blasio’s Vote to Have NYC Resume Banking with Wells Fargo

Members of the Public Bank NYC coalition and the NYC Council slammed the NYC Banking Commission’s decision today to approve Wells Fargo’s request to resume holding New York City deposits – potentially billions of dollars. The Banking Commission – composed of the Mayor, Comptroller and Commissioner of Finance, and charged with selecting which banks may hold city deposits – voted today without allowing any input from the public.

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May

2021

18

Joint Coalition Statement On The NY Public Banking Act

“The NYS Senate leadership missed a crucial opportunity to bring about a just recovery, when it suddenly removed the NY Public Banking Act from today’s Banks Committee agenda—despite Wall Street’s long legacy of extracting wealth from communities and redlining Black and brown neighborhoods.

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May

2021

13

Statement on the enactment of S5923A/A6617A, exempting COVID-19 stimulus payments from debt collection

“Thanks to this important legislation, debt collectors are now prohibited from siphoning New Yorkers’ COVID-19 stimulus payments. The new law ensures that federal relief funds actually provide relief to New Yorkers, not windfalls for the debt collection industry. New Economy Project is proud to have worked on this crucial bill with ally organizations, as we continue the fight for racial and economic justice and a just recovery for all New Yorkers.”

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April

2021

28

As NYC Council Holds Hearing on Groundbreaking Public Banking Bills, New Analysis Shows NYC’S ‘Designated Banks’ Extracted $5 Billion in Predatory Overdraft Fees During COVID-19

As the NYC Council’s Committee on Finance held its first hearing on a package of bills laying groundwork for a municipal bank, the Public Bank NYC coalition released new findings showing NYC’s “Designated Banks” – those authorized to hold municipal deposits – exacted more than $5 billion in predatory overdraft fees in 2020, as the COVID-19 pandemic devastated NYC and the country.

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April

2021

13

NYS Legislators, Groups Call for Local Public Banks to Help Lead Recovery, Advance Racial and Economic Justice

Today, community, labor, and cooperative groups from across the state joined NYS Senate Banks Chair James Sanders Jr. and NYS Assembly Banks Chair Victor M. Pichardo to rally for the “New York Public Banking Act” (S1762A/A5782). The bill creates a regulatory framework for New York cities, counties and regions seeking to establish local public banks—financial institutions created by cities and counties, and accountable to the people.

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