financial justice

In February 2019, New Economy Project filed a federal class action lawsuit charging the NYC Transit Authority, an arm of the Metropolitan Transportation Authority (MTA), with systemic due process violations. The civil rights lawsuit challenges the Transit Authority’s seizures of people’s state tax refunds to collect on default judgments—some going back 20 years or more—without […]

Next City — One evening last September, at Brooklyn Cooperative Federal Credit Union’s main branch in Bed-Stuy, the credit union staff hosted a town hall to walk members through the credit union’s balance sheet — deposits, loans, other investments, capital reserves. CEO Samira Rajan emphasized the credit union’s key ratios, like its net worth ratio — capital reserves to total assets.

New Economy Project applauds Governor Cuomo’s proposal to provide $25 million in new seed funding over five years for the New York State Community Development Financial Institutions Fund (NYS CDFI Fund). By supporting the state’s robust network of 80+ cooperative and community-controlled credit unions and loan funds, New York will take a critical first step […]

El diario — El martes se celebró una ceremonia para premiar a los “peores bancos” de Nueva York. No fue una fiesta sino el escenario en el que una docena de grupos comunitarios volvieron a insistir en la necesidad de que se cree un banco municipal en el que se deposite el dinero de la ciudad y a la vez se invierta en necesidades de los ciudadanos.

The undersigned community, labor, immigrant, civil rights, legal services, and economic justice organizations write to express our united and unqualified opposition to the administration’s plan to add financial technology and a host of integrations to NYC’s municipal identification (IDNYC) cards, which are held by more than 1.2 million New Yorkers.

NYC Comptroller — Today, New York City Comptroller Scott M. Stringer proposed a comprehensive roadmap to tackle the next frontier in decarceration: a maze of onerous mandatory surcharges and service fees, which represents an all-but-hidden secondary form of punishment for those involved in the justice system, inhibits re-entry for formerly incarcerated individuals, foments recidivism, and burdens families for years beyond a formal prison term.