financial justice

July

2023

21

New Economy Appeals Court Ruling that Harms NYer and Stacks Deck in Favor of Predatory Debt Collectors

A debt collector obtained a default judgment against Sharae Banks through fraud, falsely claiming that it had properly notified her when it sued her years earlier. A lower court then barred Ms. Banks from challenging the default judgment, upholding the debt collector’s blatant violations of her basic due process rights. New Economy Project has filed an appeal, joined by co-counsel and amicus NYS Attorney General Letitia James, to reverse the ruling.

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January

2022

14

Testimony Before NYS Senate Committees, on Effective Economic Development Strategies

New York’s approach to economic development desperately needs a reboot. We spend billions of dollars annually on wasteful corporate subsidies and tax giveaways – in the process diverting much-needed resources from higher education, transit, health care and other investments that would advance equity and economic opportunity in low-income neighborhoods and communities of color.

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December

2021

16

Next City: Why Activists Are Pushing NYC to End Its Tax Lien Sale

Next City — Marcus is a disabled, 66 year-old Vietnam war veteran. He lives in a house in the East New York neighborhood of Brooklyn that has been in his family since the 1960’s. An only child, he inherited the home when his parents passed, his only piece of generational wealth. But after falling behind on property taxes, the city placed an $11,000 lien on his home. That lien will be sold to a third party, making the debt nearly impossible to pay off.

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November

2021

22

Daily News Op-Ed: The Public Bank New York City Needs

Fresh off his electoral victory, Eric Adams declared that his administration will look abroad for policy solutions to New York City’s myriad social and economic problems. “Let’s learn what they’re doing there so we can do it here,” he urged.

It just so happens, there’s a broad-based citywide coalition pressing for a bold policy solution that is common throughout the world: public banking. Bringing public banking to New York, as a proven strategy for addressing racial and economic inequality, should rank among Mayor-elect Adams’ top priorities.

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