I’m pleased to present testimony on behalf of Public Bank NYC, a broad-based coalition New Economy project co-founded and coordinates. Public Bank NYC is made up of community, civil rights, environmental, and economic justice groups fighting for the creation of a municipal public bank – chartered to serve the public interest, accountable to New Yorkers, and rooted in principles of racial and economic justice.
Mott Haven Herald — Activists from citywide community organizations gathered in front of the New York Stock Exchange on June 6 to press the city to divest from Wall Street banks and instead create an alternative banking system that would allow communities to control their investments.
The Laura Flanders Show — Our Co-Director Deyanira Del Rio joins other members of the PublicBankNYC coalition to discuss the momentum for a public bank in NYC and the public launch of the campaign.
The Progressive — The other day in front of the New York Stock Exchange, a diverse group of demonstrators held colorful signs and chanted, “Hey, hey! Ho, ho! Wall Street banks have got to go!” The rally on June 5 was reminiscent of the Occupy Movement seven years ago—a microcosm of organized, strategic social and political demonstrations across states.
Next City — Winsome Pindergrass wants a better chance at securing financing to buy a home. At a June 5 rally in front of the New York Stock Exchange, the 59-year-old Brooklyn resident talked about how three-quarters of her monthly income goes to her $2,200-a-month rent, which has nearly doubled since 2010. She’s watched her neighbors get pushed out by rising rents.
Mic — Could the city best known as the home of Wall Street divest from major corporate banks and start its own public bank? That’s the vision that a new network of activist groups hope see in the near future.
New York, NY – Today, a broad-based coalition of community, worker rights, economic justice, and environmental groups launched a new campaign, calling on New York City to create a public bank.
El Diario — La ciudad de Nueva York deposita miles de millones de dólares en la banca de Wall Street y “esos banqueros ganan millones con esos depósitos y las comisiones mientras dan pocos beneficios a la ciudad, sus pequeños negocios y residentes”, explicaba el martes Stephen Edel, de New York Working Families.
Common Dreams — Chanting, “Wells, Chase, B of A, public bank’s a better way!” social justice groups rallied at the New York Stock Exchange on Tuesday to demand that New York City divest from Wall Street banks and establish a public bank that is “expressly chartered to serve the public interest.”
City Limits, Op-ed by Sarah Ludwig and Andy Morrison — Last week, New Economy Project traveled to Texas to attend JPMorgan Chase’s annual shareholder meeting and call the bank out for its shameful track record in New York City. After passing through a series of security checkpoints, we found seats with a clear view of the dais, on which sat Jamie Dimon, the bank’s C.E.O., who lorded over the proceedings.