Resources

I’m pleased to present testimony on behalf of Public Bank NYC, a broad-based coalition New Economy project co-founded and coordinates. Public Bank NYC is made up of community, civil rights, environmental, and economic justice groups fighting for the creation of a municipal public bank – chartered to serve the public interest, accountable to New Yorkers, and rooted in principles of racial and economic justice.

In December 2016, New Economy Project filed a federal lawsuit against Bank of America, N.A.,  on behalf of George Campbell, a low-income, African-American New Yorker. The lawsuit alleges that Bank of America violated federal and state consumer protection laws by failing to properly investigate fraudulent, unauthorized activity on Mr. Campbell’s bank account. Mr. Campbell sought monetary and injunctive relief. 

A diverse group of organizations calls on the New York Federal Reserve Presidential Search Committee to conduct an open and transparent search process, and focus on identifying an individual with a proven track record of leadership, effectiveness in engaging with ordinary Americans, a strong understanding of the broader economy, and a firm commitment to the Federal Reserve’s mandate of fostering maximum employment and price stability.