Public Comments

Protecting New York’s essential workers will be vital to the state’s recovery, yet they are disproportionately burdened by the impact of the pandemic. At a time when the risk is not being shared equally, why should those currently bearing the biggest load of keeping society together take the biggest budgetary hit? Instead of placing the burden of New York State’s economic recovery on the backs of working New Yorkers, it is only reasonable to ask those who benefit from Wall Street speculation to pay their fair share.

New Economy Project and 14 partner organizations are part of a citywide Community Land Trust (CLT) Initiative that seeks $1.5 million in FY2021 City Council discretionary funding. More than ever, NYC needs CLTs to provide stable and permanently-affordable housing, combat displacement, and ensure a just recovery for all New Yorkers. We urge the Council to renew funding for the CLT Initiative in NYC’s FY2021 budget.  

New Economy Project strongly supports Int. 1912 and we urge the Committee to bring the bill before the full body of the NYC Council, for the swiftest possible passage into law. We commend Speaker Johnson and other sponsors of this emergency legislation for their strong leadership. New Economy Project, along with thousands of New Yorkers and more than 60 groups statewide, has been pressing Governor Cuomo to institute an emergency statewide moratorium on predatory debt collection during the COVID-19 crisis.

New Economy Project strongly opposes the Office of the Comptroller of the Currency (OCC) and Federal Deposit Insurance Corporation (FDIC)’s proposed changes to the Community Reinvestment Act (CRA) regulations. The agencies’ proposed CRA regulations would effectively dismantle CRA to advance a destructive deregulatory agenda – made even worse by your agencies’ failure to extend the comment deadline during this period of unprecedented crisis.

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 […]

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.

This bill would amend the General Business Law so that financial services providers regulated under New York State law would not be permitted to “require a confession of judgment in any contract or agreement for a financial product or service.”