Press Releases

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.

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) […]

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.