April
2016
8
A coalition of two dozen faith leaders, and labor, civil rights, and community groups from states that ban payday lending hand-delivered strongly-worded letters to Consumer Financial Protection Bureau Director Richard Cordray on Wednesday, calling on the federal agency to “use its full authority” to crack down on predatory payday lending.
March
2015
10
This morning, New Economy Project hand-delivered a letter to Consumer Financial Protection Bureau (CFPB) Director Richard Cordray, calling on the CFPB to issue a strong payday lending rule that ends the payday loan debt trap once and for all.
November
2014
27
Epoch Times — New York is considering a novel solution to alleviate the lending needs of credit-strapped low-income consumers called “borrow and save,” a type of loan designed to simultaneously extend credit lines to the needy and help them rejoin the financial mainstream.
November
2014
25
New Economy Project expresses to the NYS Assembly Standing Committee on Banks and Assembly Subcommittee on Banking in Underserved Communities the importance of keeping predatory loans out of New York.
November
2014
13
WSHU — Four additional banks have agreed to block online payday lenders from accessing customer accounts in New York. The agreement comes as the banks’ processing network remains silent on efforts to keep the illegal loans from crossing state borders.
It is illegal for any lender to make or collect on payday loans in New York State. Know your rights if you have received a payday loan and where to turn for help.
September
2014
29
New Economy Project urges regulators to help bank customers stop unauthorized debits by payday lenders and others.
September
2014
21
Crain’s New York Business — Letter to the Editor by New Economy Project Co-director Josh Zinner: “Check cashers try lending a hand” (Aug. 18) paints a misleadingly rosy picture of the check-cashing lobby’s motivations.
New Economy Project brought this case against Chase in 2012, exposing the banks’ role in facilitating — and profiting from — payday lenders’ illegal lending and debt collection practices. A 2013 settlement resulted in significant practice changes at the bank.
New Economy Project files a 2013 amicus (“friend of the court”) brief in support of New York State’s crackdown on illegal online payday lending.