Amicus Brief, on New York Bankers Association v. City of New York
In 2012, the New York City Council passed the Responsible Banking Act, giving the City the authority to consider how well banks are serving local communities, when determining where to place the City’s deposits. In 2013, the New York Bankers Association sued the City, claiming that the law would harm its member banks and was preempted by federal and state law.
New Economy Project filed an amicus brief in the case, in support of the City and its authority to enact and enforce the RBA. The brief was submitted with allies Association for Neighborhood and Housing Development, Legal Services-NYC, and National Community Reinvestment Coalition.