Staff attorney Raúl Carrillo delivered our message at a rally organized by Fed Up: The National Campaign for a Strong Economy to demand the appointment of an accountable president of the Federal Reserve Bank of New York.
City Limits — Banks in New York are denying more housing loans in neighborhoods where people of color dominate, and are turning down black applicants who seek mortgages and refinancing at a higher rate than similar white applicants, an advocacy group reported this week.
These days it seems taken for granted that banks discriminate against people and neighborhoods of color – they’re banks, right? We can thank the Center for Investigative Reporting for reminding the world that this is not okay.
NYC Public Advocate, Press Release — Public Advocate Letitia James unveiled the ten banks that loan to the most buildings owned by the City’s Worst Landlord Watchlist. She called on these banks to reform their lending practices to protect tenants.
Center for Public Integrity — A housing scam alleged by Brooklyn Legal Services uses a map produced by New Economy Project to illustrate the concentration of suspicious property transactions in communities of color.
City & State NY — Carmen Vega-Rivera jokes that she’s spent so much time in Bronx Housing Court that she sometimes checks to see if her portrait has been put up on the walls.
New Economy Project presses NYC Community Investment Advisory Board to collect and make public data on a wide range of banks’ activities, as banks have a very poor track record of serving New York City communities, particularly communities of color.
In 2008, at the peak of the foreclosure crisis, New Economy Project launched a foreclosure prevention loan fund that over the next five years helped almost 400 low-income New Yorkers avert foreclosure and keep their homes.
New Economy Project and 24 members of New Yorkers for Responsible Lending urge the New York State Department of Financial Services to adopt strong rules addressing pervasive force-placed insurance abuses.
New Economy Project and members of New Yorkers for Responsible Lending submit letter in opposition to FHFA plan, which would raise mortgage guarantee fees in NYS and other states with strong consumer protections.