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NEDAP cited in City Limits Weekly, "Debt Comes Gift-Wrapped in New Quick-Loan Product" on December 26, 2006.
NEDAP cited in Newsday article, "Consumers' aides say new 'pay stub' loans, based on projected tax returns, are costly and risky." on December 22, 2006.
Two Daily News articles on spiking foreclosures in the Bronx cite NEDAP's director and research to explain what's going on in the local mortgage market on December 19, 2006.
NEDAP co-director featured in NBC Nightly News segment on pay stub/holiday loans. on December 18, 2006.
NEDAP co-director featured in NPR report: "Consumer Advocates Warn Against Paystub Loans" on December 18, 2006.
Associate Director Deyanira Del Rio quoted in article on immigrants and homeownership, "Helping the Undocumented Achieve the American Dream," in winter issue of The Next American City in December 2006.
Deyanira Del Rio named Associate Director of NEDAP!
NEDAP co-directors cited in New York Post article, "Watch Your Wallet, Firms Expand Loan Program" on December 10.
NEDAP cited by local and national media regarding pay stub/holiday loans. NEDAP was cited by various media outlets thoughout the month of December regarding high-cost paystub and holiday loan products offered by tax preparers and their partner banks. Nationally, NEDAP was featured on NPR's Day to Day, NBC Nightly News, as well as on the front page of the American Banker. Locally, NEDAP appeared in Newsday, New York Post, and City Limits articles. Much of the coverage also cited NEDAP's 2006 report, "Rapid-Ripoffs: Tax Refund Anticipation Lending in New York City," which documents the millions of dollars that tax refund anticipation loans siphon from low income New Yorkers and their communities.
NEDAP trains staff of the Greyston Foundation, based in Yonkers, to teach NEDAP's financial justice curriculum on credit topics and credit reporting and repair.
NEDAP celebrates its 10th Anniversary! Special thanks to our many friends and colleagues who joined us for a great party, on December 7! CLICK HERE to see photos from the event.
Team NEDAP runs 5-mi. race in Central Park! On December 2, 2006, five NEDAP staffers pick it up for 5-mi. holiday run in Central Park. Join us for upcoming runs in the park!
NEDAP staffers Dey Del Rio, Sarah Ludwig, Mark Winston Griffith, Rebeca Gamez and Chris Keeley, after New York Road Runner Holiday 5-mi Run |
NEDAP cited in Queens Chronicle article, "Credit Union Eyed for Jackson Heights, Corona and Elmhurst," on November 30. The article describes the lack of adequate banking services in Queens Community Board 3, and efforts by Queens activists, led by Forest Hills Community House, to establish a community development credit union in the Jackson Heights area.
NEDAP issues press release on high-cost loans. The release, "Tax Preparers and Banks Target Poor New Yorkers with Usurious Holiday and 'Pay Stub' Loans," was issued on November 29, 2006, and is available the NEDAP Press Room.
NEDAP testifies on "Achieving Fair Housing Choice," at a hearing on residential segregation in New York City, convened by the NYC Council's Civil Rights and Consumer Affairs Committees on November 28.
NEDAP co-director cited in Staten Island Advance article, "No Wonder We're All in Debt," on November 26.
NEDAP participates in the National Federation of CDCU's 5th Annual Financial Literacy Day, on November 14. NEDAP spoke about its Community Financial Literacy and Justice Course, and resources available to help groups integrate financial education with legal services and policy advocacy efforts in New York.
NEDAP leads workshop for Esperanza del Barrio's youth project, on November 10, about the principles of cooperative business ownership.
NEDAP presents at "Securing a Fair Start: Asset-Building Strategies for New York's Working Families," a conference organized by the Children's Defense Fund - New York, on November 10. Dey Del Rio discussed challenges and opportunities to asset-building for immigrant New Yorkers. Sarah Ludwig presented on policy issues and recommendations to eliminate discriminatory economic practices and support asset development in low income neighborhoods.
NEDAP conducts workshop on banking basics and avoiding identity theft, for seniors at Project Find on Manhattan's West Side, on November 9.
NEDAP selected as first place winner in seed grant RFP issued by KACF Inter-Community Development Fund. In partnership with Erasmus Neighborhood Federation, New Immigrant Community Empowerment (NICE), and St. Mary of Assumption Church, NEDAP will support inter-ethnic economic development initiatives in three NYC immigrant neighborhoods, focusing on money transfers (remittances) and immigrants' financial services access.
NEDAP presents on the NYC PACE Program, at "Current Best Practices in Foreclosure Prevention, " a roundtable discussion convened by the Federal Reserve Bank of New York, on November 2.
NEDAP conducts financial justice workshop for the Women in Prison Project - ReConnect, a leadership training program for women who have recently returned home from prison or jail, on November 1.
NEDAP provides financial education workshop to English as a Second Language (ESL) students at Bronx Community College, on October 30.
NEDAP trains first-time homebuyers on predatory lending warning signs at a homeownership seminar sponsored by Cypress Hills Local Development Corporation on October 25.
NEDAP makes presentation on predatory lending at a housing forum sponsored by Council Member Darlene Meally on October 25.
NEDAP presents at the quarterly meeting of the FDIC New Alliance Task Force, on October 24. NEDAP's Sarah Ludwig described how immigrant neighborhoods are targeted for high cost financial services and credit, and Dey Del Rio shared preliminary findings of NEDAP's immigrant banking survey.
NEDAP's Claudia Wilner testifies at New York State Assembly hearing on how best to protect consumers against unfair and deceptive debt collection practices, on October 24. Her testimony was featured in the Buffalo News, on October 25.
NEDAP provides testimony at NYS Assembly hearing on October 20, on the need for disclosure of insurance data and the creation of an insurance investment fund in New York State.
NEDAP co-director Sarah Ludwig speaks to law students about legislative advocacy to promote social change, at New York Law School's Justice Action Center colloquium, on October 19.
NEDAP trains homeowners on predatory lending warning signs at the Queens Public Library on October 18.
NEDAP co-director Sarah Ludwig encourages students to pursue a career in public interest law, at NYU Law School's annual Real Estate and Urban Policy Career Panel, on October 17.
NEDAP trains homeowners on predatory lending warning signs, at the NYC Comptroller's Office Consumer Banking Day Conference, held on Saturday, October 14 at Medger Evers College in Brooklyn.
NEDAP trains English as a Second Language (ESL) instructors from New Immigrant Community Empowerment (NICE) in Queens on financial education and community economic justice issues, on October 14. NEDAP provided information to support the instructors in incorporating financial justice themes and information into NICE's ESL classes.
NEDAP and partner groups convene Town Hall on predatory lending in Cambria Heights, Queens on October 12.
NEDAP presents a workshop on predatory lending at the Queens Public Library on October 7, making local homeowners aware of resources available through the Preserving Assets and Community Equity (PACE) Project.
NEDAP co-director Sarah Ludwig serves as keynote speaker at the Chicago CRA Coalition's annual meeting on October 6, hosted by Woodstock Institute.
NEDAP co-director testifies before NYS Assembly Banks and Consumer Affairs Committees on October 5, about how high-cost financial services harm NYC communities.
NEDAP trains NYC Department of Housing Preservation and Development employees on predatory lending.
NEDAP conducts a workshop for African Services Committee on October 4 with the Lower East Side People's Federal Credit Union. At the session, NEDAP and LESPFCU provided information about the Individual Taxpayer Identification Number (ITIN), including how to apply, when the ITIN is needed to open a bank or credit union account, and the possible benefits and risks of obtaining an ITIN.
NEDAP provides testimony at NYS Assembly hearing on October 4, regarding banks' discontinuance of money services business accounts, and the effect of these actions on NYC immigrant neighborhoods.
More than 150 homeowners and homebuyers attend Town Hall meeting on predatory lending in Jamaica, Queens. The meeting, held on September 28, was organized by NEDAP in collaboration with NYC Dept. of Housing Preservation and Development and local groups.
NEDAP participates in a seminar for immigrant entrepreneurs, sponsored by Brooklyn Economic Development Corporation and Boricua College SBDC, on September 28. NEDAP provided information on immigrants' rights to open bank accounts and obtain loans, how to order your credit report for free and establish a credit history.
NEDAP speaks to prospective homeowners in Brownsville, Brooklyn about how to avoid property flipping schemes, at a community Housing Clinic convened by the Brooklyn Neighborhood Improvement Association, on September 28.
NEDAP speaks at the NY Hispanic Fraud Prevention Forum, sponsored by the Federal Trade Commission on September 27. Sarah Ludwig and Deyanira Del Rio described NEDAP's community education, organizing support, and legal services strategies to combat fraud and assist low income Latino New Yorkers.
Gotham Gazette runs piece on banking and poverty by NEDAP co-director, as part of its "Many Faces of Poverty" series, posted on September 25.
NEDAP discusses credit reporting issues on WBAI radio show, You and Your Money. On September 22, NEDAP's co-director, Sarah Ludwig, provided information about how to order your credit report for free, your rights under the Fair Credit Reporting Act, and what to do about negative or incorrect information in your credit report. Listen online at WBAI's Archive - scroll down to "You and Your Money" on September 22, 2006, 10:30 am.
NEDAP conducts training on September 24 at St. David's Episcopal Church in Queens on predatory lending.
NEDAP and SBLS file a federal lawsuit against two debt collection agencies, alleging violations of the Fair Debt Collection Practices Act. This groundbreaking case, filed on September 21, alleges that Pressler and Pressler, a law firm, and its client, Palisades Collection, engaged in unfair and deceptive practices by filing hundreds of frivolous lawsuits against lower income New Yorkers. The suit was brought on behalf of five New Yorkers who called NEDAP's Hotline. For more information, read the press release and the complaint, or call NEDAP staff attorney Claudia Wilner.
NEDAP conducts training on September 21 at the Arab American Association of New York on strategies to promote fair financial services access in immigrant communities.
NEDAP launches the NYC Financial Justice Clinic on September 19. At the clinic, NEDAP staff meet one-on-one with New Yorkers who need assistance solving problems stemming from debt collection, incorrect credit reports, and lending discrimination. The clinic is held by appointment only at the Harlem Branch of the Lower East Side People's Federal Credit Union. For more information about the clinic, please call NEDAP's Hotline at 212-925-4929.
NEDAP speaks about immigrant homeownership issues and avoiding predatory mortgage lending on ITV Gold on September 19. ITV Gold serves New York's South Asian community.
NEDAP leads economic justice workshop for Esperanza del Barrio's youth group, Sueños del Barrio, in East Harlem on September 8. NEDAP engaged the group of high school students and recent graduates in exercises and discussions about wealth inequality, redlining, and immigrants' financial rights. Participants also learned about banking, savings, budgeting and credit basics, and received information about local resources and how to avoid scams.
NEDAP director quoted in American Banker article on September 8. The article, "Block Revamp of Tax Lending Turns on Thrift", announced H&R's plan to lower its fees on tax refund anticipation loans.
NEDAP featured on WBAI's You and Your Money on September 1. NEDAP's Claudia Wilner described illegal debt collection practices, and gave listeners information about how to assert their rights and get abusive debt collectors off their backs. Listen online at WBAI's Archive - scroll down to "You and Your Money" on September 1, 2006, 10:30 am.
NEDAP participates in a gathering about remittances organized by the Transnational Institute for Grassroots Research and Action (TIGRA) on August 24-27, 2006 in the Bay Area, California. The gathering brought together a wide range of migrants' rights, economic development and social justice groups from the U.S. and Global South to address abusive practices in the remittance industry, and other economic justice issues facing immigrant communities. Participants explored strategies to promote corporate and social responsibility by money transfer companies, as well as support community-controlled financial services, savings and investment vehicles. For more information about the gathering, click here.
African Services Committee hosts a NEDAP workshop on August 16 about immigrants' rights to open bank accounts, obtain credit and build credit histories. NEDAP also provided information about consular identification, local community development credit unions, and assistance available through the NYC Financial Justice Hotline.
Trainings on immigrants' rights in financial services were held on Sunday, August 13 at two Catholic churches on Staten Island's north shore. This was the third in a series of workshops NEDAP has provided to church and community members, who are considering strategies to expand access to financial services and credit in their immigrant communities. NEDAP was joined by New Immigrant Community Empowerment, which helped conduct surveys of workshop attendees for the NYC Immigrant Financial Justice Network's survey project.
NEDAP trains youth at Cabrini Immigrant Services in the Lower East Side. At the session, held on August 7 for recent high school graduates, NEDAP gave an overview of banks and credit unions, credit cards, avoiding debt, and credit reports. Participants also engaged in exercises and discussions about wealth inequality and community financial justice.
New report - Financial Literacy for Newcomers: Weaving Immigrant Needs into Financial Education - cites NEDAP resources. The report, by LIRS and RefugeeWorks, provides recommendations for financial education programs to effectively meet immigrants' needs. NEDAP's research, Community Financial Literacy and Justice Course and Immigrant Financial Justice Project are cited as resource for immigrant groups on these matters.
NEDAP trains seniors on Basic Banking (or "Lifeline") accounts and other banking topics, on July 27 at Project Find on Manhattan's West Side.
New York State enacts new anti-deed theft law! On July 26, 2006 NEDAP and New Yorkers for Responsible Lending celebrated passage of a new state law to curb "foreclosure rescue" scams in NYS. The Home Equity Theft Prevention Act goes into effect in February 2007.
NEDAP presents on immigrant banking issues at the West Harlem Group Assistance Community Fair on July 22. NEDAP's presentations are a part of the Community Education Program.
NEDAP leads issue-framing session, "Fair Access to Financial Services: A Progressive Economic Development Analysis," for groups involved in Redefining Economic Development-NY, on July 18. NEDAP talked about why fair access to credit and financial services is critical to neighborhood development and ways that unequal credit has contributed to neighborhood inequality, segregation, and poverty. NEDAP explained the history of redlining and the Community Reinvestment Act (CRA), and the need to expand the scope and application of CRA given fundamental changes in financial services brought on by deregulation, consolidation, and electronic banking technology. NEDAP also outlined issues low income and undocumented immigrants face in obtaining access to fair and affordable financial services.
Joining NEDAP to educate groups about community financial justice issues were Joy Cousminer of Bethex Federal Credit Union, who described her credit union's mission and challenges; Artemio Guerra of the Fifth Avenue Committee, who discussed La Unión de la Comunidad Latina's organizing campaign to hold money transmitters accountable to the immigrant community in Sunset Park; and Josh Zinner of South Brooklyn Legal Services, who explained connections between predatory lenders and mainstream financial institutions and Wall Street.
NEDAP conducts training for seniors on identity theft, at Coop Village NORC on Manhattan's Lower East Side on July 13. NEDAP's presentations are a part of the Community Education Program.
NEDAP joins with local groups and members of the PACE Project on June 28, to host Town Hall on Predatory Lending, in Bedford-Stuyvesant, Brooklyn.
NEDAP leads community education session for 80 prospective homebuyers, on June 24. The presentation at Margert Community Corporation, in Far Rockaway, Queensincluded information on the mortgage process and how to avoid "property flipping" and other first-time homebuyer abuses.
NEDAP convenes Town Hall Meeting on Predatory Lending in Bedford-Stuyvesant, Brooklyn, on June 18, to get word out to community residents about refinancing, first-time homebuyer, and deed theft scams, and local homeowner and foreclosure prevention resources. Presenters included NYS Sen. Velmanette Montgomery, the Parodneck Foundation and HPD (members of the NYC PACE Team), and neighborhood groups -- Bridge Street Development Corp., Brownstoners of Bedford-Stuyvesant, Northeast Brooklyn Development Neighborhood Development Corp., and Pratt Area Community Council.
NEDAP goes to the library! In June and July, NEDAP led a series of evening workshops on predatory lending warning signs and resources available to homeowners and prospective homeowners, at Public Library branches in Bedford-Stuyvesant and Bushwick, Brooklyn.
NEDAP testifies about debt collection practices that harm low-income New Yorkers at an exploratory public hearing held by the New York City Department of Consumer Affairs on June 12.
NEDAP presents on financial education strategies for Latino and immigrant communities, at the 4th Latino Credit Union Conference in Durham, NC, presented by the National Federation of Community Development Credit Unions on June 7-8.
NEDAP cofacilitates consumer law roundtable on June 6 at the 2006 Legal Assistance Partnership Conference.
NEDAP participates in seminar on financial access and remittances in Mexico City on June 5-6, presented by the Federal Reserve, the Bank of Mexico, and the Institute for Mexicans Living Abroad. NEDAP conducted a presentation on challenges to building trust in banks, and opportunities for banks to provide equal financial services access to immigrant communities.
NEDAP presents on homeownership for immigrant workers in Staten Island. On June 2, NEDAP conducted an information session for Mexican immigrant workers on homeownership issues, including steps to take to prepare for buying a home and obtaining a mortgage, and how to recognize and avoid predatory lending and real estate practices.
New Yorkers for Responsible Lending supports strong protections for NY homeowners against "deed theft" scams, as State Assembly unanimously passes strong bill. Click here for NYRL's press release.
NEDAP presents at National Coalition for Asian Pacific American Community Development conference. On May 18-19, NEDAP presented on panels about asset-building strategies in immigrant communities and the racial wealth gap, at the National CAPACD conference in Houston, Texas.
Workshop: Justice-Based Approaches to Community Financial Education. On May 9, NEDAP concluded its 9th Annual Community Reinvestment Workshop Series with a lively session on financial education strategies that incorporate community and consumer rights.
Skyrocketing Energy Bills Leave New Yorkers vulnerable to predatory lending and real estate scams. On May 2, 2006, NEDAP led a session, "Consumer Protections: What Every Low-Income Consumer and Advocate Should Know about Predatory Lending." at the Low Income Forum on Energy, in Albany, NY.
NEDAP at Bronx Housing Forum. NEDAP led a panel discussion at University Neighborhood Housing Program (UNHP)'s Annual Affordable Housing Forum, which highlighted the spiking foreclosure rates in the northwest Bronx, and the urgent need for resources to address high cost mortgage lending in the community. UNHP released a new report at the forum, "The State of Homeownership in the Bronx: Sub-Prime Lending, Foreclosures, and Gaps in Homeownership Preservation," which calls on the City to expand the PACE program to the northwest Bronx.
NEDAP Celebrates Fair Housing Month! Throughout April, NEDAP staff conducted numerous fair housing trainings and presentations for first-time homebuyers and homeowners in New York City. Trainings were held in partnership with AAFE Community Development Fund in Flushing, Queens; Margert Community Corp. in Far Rockaway, Queens; Erasmus Neighborhood Federation in East Flatbush, Brooklyn; P.A.C.E. project partners in Bushwick, Brooklyn; and University Neighborhood Housing Program in the Northwest Bronx.
Presentation on Credit Reports. On April 22, Dey Del Rio participated in the Local Development Corporation of East New York's Annual Total Woman Business Conference, held at Long Island University. She conducted a presentation in Spanish about credit reports and credit repair for current and aspiring entrepreneurs.
Workshop with BEDC Launch Program on Credit Issues. On April 5, NEDAP staffer Celeste Moore led a training on credit issues, credit reporting, and credit repair for 20 new and prospective entrepreneurs at Brooklyn Economic Development Corporation. Training participants are enrolled in BEDC's 15-session LAUNCH (Lead, Act, Undertake, Navigate, Change & Heal) program.
NEDAP promotes immigrant financial justice in Staten Island. On Sunday, March 26, NEDAP's Deyanira Del Rio met with immigrants and church leaders in Staten Island to provide information about how the U.S. banking system works, what immigrants' rights are with respect to accounts, loans, savings and money transfers (remittances), and how communities can organize to improve financial services and credit access.
Bushwick town hall on predatory lending. On March 23, NEDAP and partner organizations held a town hall on predatory lending, to provide information about warning signs and resources for homeowners and community groups.
Financial justice for immigrants workshop. On March 22, NEDAP conducted a know-your-rights workshop for a Spanish-speaking women's group at Cabrini Immigrant Services. The workshop addressed participants' questions about bank accounts, savings options, and avoiding scams.
Tax refund loans in the news. A Daily News editorial on March 20, 2006 cited NEDAP report on how tax refund anticipation loans sap millions of dollars from NYC communities.
NEDAP joins NYS Attorney General as he announces lawsuit against H&R Block. On March 15, NEDAP joined NYS Attorney General Eliot Spitzer at a press conference announcing his office's lawsuit against H&R Block charging that the company engaged in fraudulent marketing of its "Express IRA" product. As stated in the attorney general's press release, "The suit alleges that the H&R Block Company steered hundreds of thousands of its clients, including almost 30,000 New Yorkers, into IRAs that were virtually guaranteed to lose money because of a combination of hidden fees and low interest rates."
List of Free Tax Prep Sites. A list of locations where taxpayers can have their taxes prepared at no cost is available here. This list is also available in our Resources for Consumers section.
Report Issued on the Impact of Tax Refund Anticipation Loans (RALs) on NYC. NEDAP has released "Rapid Rip-Offs: Tax Refund Anticipation Lending in New York City," an examination of how usurious tax refund loans affect New Yorkers and NYC neighborhoods. Using GIS mapping technology and analysis of IRS data, the report shows that these short-term loans, made against people's expected tax refunds and credits, drain millions of dollars from low income communities and neighborhoods of color. In many neighborhoods more than 1 out of 4 taxpayers took out a RAL. The "explosive new study" was featured in the New York Post on February 19.
9th Annual Community Reinvestment Workshop Series Announced. NEDAP's 9th Annual Community Reinvestment Workshop Series will be held this winter and spring. Sessions for this year's Workshop series include: Emerging Issues in Predatory Home Sales & Mortgage Lending; The High Cost of Credit in Low Income Communities; Documenting Financial Services in Your Neighborhood; and, Community Financial Education: A Justice-Based Approach. The Workshop Series is for community groups, organizers and activists. Registration is required.
NEDAP speaks out against tax refund loans on Diálogo de Costa a Costa. On February 9, Dey Del Rio appeared on a one-hour show about the Earned Income Tax Credit and related tax issues. Dey provided information about free tax sites and warned against so-called "rapid refunds" that take a huge bite out of low income taxpayers' refunds and tax credits. Diálogo airs nationally and is a program of the Hispanic Information and Telecommunications Network.
More than 100 attend Promoting Financial Justice for Immigrant New Yorkers! On February 8, NEDAP and the NYC Immigrant Financial Justice Network presented a half-day forum highlighting barriers faced by immigrants in the financial services system, and how community groups are organizing to combat abusive practices and press for accountability by banks, money transmitters and others.
Boricua College Small Business Development School hosts training session. Program Associate Celeste Day Moore co-presented a session on credit issues for small business owners and homeowners with Jennifer Neal at ACCION New York. For resources on managing and repairing credit, as well as your rights as a consumer, visit the resources section of the website. To schedule a workshop for your community organization on credit issues, avoiding homeowner and first-time homebuyer scams, and other financial topics, click here.
Newsday Article Quotes NEDAP Co-director, Cites NYRL Testimony. In an article regarding the NYS Banking Department proposal to allow state-chartered banks to impose substantially higher charges in their overdraft bounce protection programs, NEDAP co-director Sarah Ludwig was quoted as saying, "It's not about protection, and it's not about courtesy." Testimony given on behalf of New Yorkers for Responsible Lending (NYRL) was also cited. NYRL submitted comments regarding this proposal in November 2005.
Co-Director Appointed to Consumer Advisory Council. NEDAP's director Sarah Ludwig was selected to serve on the Federal Reserve Board of Governors' Consumer Advisory Council. The Council advises the Board on consumer credit issues and other matters relating to consumer financial services. The Council meets three times a year in Washington, D.C. The appointment is for a 3-year term.
Project Director on WBAI's Wake-Up Call. On Jan. 4, WBAI's Wake-Up Call featured project director Deyanira Del Rio, who spoke about credit reports and other banking issues, as part of WBAI's series on New Year's Resolutions.
NEDAP Invited to Speak on the Failure of Banks to open Branches in Low-Income Areas. On December 18, NEDAP co-director Mark Winston Griffith joined elected officials, along with the National Federation of Community Development Credit Unions, in a press conference on a new study documenting the disproportionate expansion of bank branches in affluent communities. The study, by Congressman Anthony Weiner's office, shows that banks continue to vastly underserve low-income areas and neighborhoods of color in NYC.
NEDAP Honors Fellow Advocates and Allies at 2005 Holiday Party. On December 15, NEDAP honored individuals and organizations we have worked with in the past year. NEDAP presented Michael Eisenmenger and Betty Yu of Manhattan Neighborhood Network's (MNN) Community Media Department with the "Quantum Leap Award, " for help with NEDAP's new public access TV show, "On the Money." Alvin Starks of the Open Society Institute (OSI) received the "Amazing Funder Award," for being an invaluable ally in the fight for social justice. And finally, NEDAP presented Rick Echevarria of Bushwick Housing Independence Project (B-HIP) with the Florence M. Rice Award, given for the first year by NEDAP to an emerging new leader in the field. Thanks to everyone who came and joined us in honoring our colleagues!
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From left to right: STANDING, Florence Rice, Pamela Sah, Michael Eisenmenger, Alvin Starks, Mark Winston Griffith, Claudia Wilner, Celeste Day Moore, Hilary Botein, Linda Post. KNEELING, Rick Echevarria, Deyanira Del Rio, Chris Keeley, Betty Yu, and Sarah Ludwig. |
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Florence M. Rice with Rick Echevarria. |
American Banker article on Overdraft Bounce Protection cites New Yorkers for Responsible Lending. A November 29, 2005, article in American Banker cites NYRL in an article titled, "N.Y. Overdraft Plan Could Have Nationwide Effect." For more information see NYRL News.
New Yorkers for Responsible Lending comments on Overdraft "Bounce Protection" Proposal. On November 21, 2005, members of the statewide coalition submitted a comment letter to the New York State Banking Department regarding its proposal to strip away valuable existing consumer protections, and enable state-chartered financial institutions to impose substantially higher charges in their overdraft bounce protection programs. For more information see NYRL News.
NEDAP speaks at Annual Financial Literacy Day. Deyanira Del Rio presented on NEDAP's Community Financial Literacy and Justice Course and immigrant financial education efforts at the National Federation of CDCUs' 4th Annual Financial Literacy Day.
NEDAP trains families on rent-to-own store abuses. On November 7, NEDAP's Deyanira Del Rio and Claudia Wilner trained low income families at Concerned Citizens for Family Preservation in Staten Island on rent-to-own stores, payday lending and other credit abuses.
NEDAP trains Project Enterprise on credit reports and repair. On November 3, NEDAP's Dey Del Rio conducted a "Know Your Rights" training in Spanish on credit reporting issues for low income women microentrepreneurs at Project Enterprise's Harlem office.
New Yorkers for Responsible Lending hold Statewide Meeting. On November 3, 2005, the coalition of 116-member organizations from across New York State held its third annual Statewide Meeting in Albany. For more information see NYRL News.
Op-Ed in Daily News on Overdraft Protection. The Daily News featured an Op-Ed by NEDAP's Co-Director Mark Winston Griffith on the NY State Banking Department's proposal to allow overdraft protection on bank accounts. Click here for the Daily News web version of "N.Y. banks want to rip you off" or here for pdf. For more information on the proposed changes and to submit comments to the Banking Department, go here.
Westhab Trainings on Curriculum Begin. In November, NEDAP began a series of financial education workshops for social workers at Westhab. Westhab works with homeless and low income individuals and families, in Westchester County, NY.
NEDAP Awarded HUD Fair Housing Grant. In October, HUD awarded NEDAP a major grant under its Fair Housing Initiatives Program, for NEDAP's Fair Lending Education & Outreach Program. The grant will support NEDAP's continued efforts to combat predatory mortgage lending and other unfair housing practices in NYC.
NEDAP featured in Newsday article: "Stealing the House Itself." NEDAP's co-director Sarah Ludwig was quoted in a October 30th Newsday article on foreclosure rescue scams. Click here for the Newsday web version or here for pdf. For more information and resources, visit NEDAP's Fair Lending Education & Outreach page.
Co-Director Participates in NCLC Panel. NEDAP co-director Sarah Ludwig spoke on a panel about building a national consumer justice movement, at the National Consumer Law Center's national conference, in Minneapolis, on October 28, 2005.
NEDAP Presents at Annual Conference for the Hispanic Elderly. On October 25, staffmember Celeste Day Moore presented to over 500 seniors at the 27th Annual Conference for the Hispanic Elderly. She gave information on deed theft and identity theft, scams specifically targeting seniors in New York City. For more information on NEDAP's workshops, visit our community education page.
Testimony at Public Hearing on Overdraft "Bounce Protection" Loans. At a public hearing held by the NYS Banking Department on October 17, 2005, NEDAP director Sarah Ludwig expressed strong opposition to the Banking Department's recent proposal to permit state banks to offer high-cost overdraft protection. Click here for the transcript of Ms. Ludwig's testimony. New Yorkers for Responsible Lending, which NEDAP coordinates, will also be submitting written comments regarding this proposal.
NEDAP Participates in Chhaya CDC Panel: "Opening Doors to New Immigrants in NYC: Combating Predatory Lending and Promoting Consumer Rights." NEDAP's Sarah Ludwig and Deyanira Del Rio conducted presentations on barriers to immigrants' financial access, abuses targeted to immigrant communities, and strategies to promote financial justice and fair housing opportunity for new immigrants. The panel, held on October 19, also featured presenters from the Fair Housing Justice Center, NHS of Jamaica, and the Foreclosure Prevention Project at South Brooklyn Legal Services.
Community Financial Literacy and Justice Trainings this Fall. NEDAP has trained numerous groups this fall on financial literacy and justice topics, providing information on free credit reports, fair debt collection practices, fair housing, and the mortgage process. Groups trained include Sanctuary for Families, Child Welfare Organizing Project, the Caring Community Senior Center, and Melrose/Mott Haven Senior Center. More information is available on NEDAP’s community trainings, the Community Financial Literacy & Justice Curriculum, and the Immigrant Financial Justice Project.
Training on Mortgage Process at West Village Houses. On September 29, NEDAP led a lively session on the mortgage process for the West Village Houses Tenants Association. West Village Houses was built under the Mitchell Lama Program as moderate- and middle-income housing, with 420 units soon converting to a limited equity cooperative, in which all tenants will have the option of purchasing their apartments. The session focused on credit reports, credit scores, the ABCs of getting a mortgage, and how to identify and avoid predatory loans.
Panel on Affirmative Action. NEDAP's executive director was invited to speak on a September 28 panel on affirmative action, presented to the Ford Foundation's trustees. She described how NEDAP's work to combat predatory mortgage lending is fundamentally about racial justice and economic access.
WBAI Segment on Deed Theft. Director Sarah Ludwig participated in a radio segment on deed theft, on September 27, along with colleague Josh Zinner from the Foreclosure Prevention Project at South Brooklyn Legal Services.
Train the Trainer Session for NYC Groups. On September 22, NEDAP conducted a train-the-trainer session for 15 New York-area groups, on how to teach the credit sections of NEDAP's Community Financial Literacy and Justice Curriculum. The groups are all grantees of the Wachovia Foundation, which sponsored the event.
Director Speaks at Public Interest Law Colloquium. NEDAP's executive director was a guest speaker at New York Law School's Public Interest Law Colloquium, on September 22, where she talked about NEDAP's model of economic justice lawyering.
Panel on Predatory Lending at Affordable Housing Conference. Staff member Celeste Day Moore participated in a panel on predatory mortgage lending on September 20 at the Neighborhood Preservation Coalition's annual Affordable Housing Conference in Alexandria Bay, New York. The panel, attended by dozens of groups from New York City, focused on new trends in predatory financial services and strategies for community response. Celeste spoke about NEDAP's Fair Lending Education and Outreach efforts and showed maps of high-cost lending trends in NYC.
"On the Money" TV Show now airing in Brooklyn. NEDAP's TV Show, "On the Money with NEDAP," aired in Brooklyn for the first time on September 14. It will air at 10:30 AM and 6:30 PM, on channel 34 for Time Warner cable subscribers, and channel 67 for CableVision subscribers. For more information on future airings, visit our "On the Money" page.
NYRL Comments on Proposed Anti-Predatory Lending Bills. On August 11, New Yorkers for Responsible Lending (NYRL) submitted a letter to New York's 10 representatives on the House Financial Services Committee. The letter called on the Reps. to oppose the Ney-Kanjorski bill (H.R. 1295), which would roll back existing federal and state anti-predatory lending protections, and to support the Miller-Watt-Frank bill (H.R. 1182) which would strengthen federal anti-predatory lending laws and in no way preempt state laws, such as New York's Responsible Lending Act. For more information, visit NYRL's website.
NEDAP supports NYS Attorney General's efforts to enforce fair lending laws in New York. On August 5, NEDAP joined with New York and national civil rights and consumer protection organizations in filing an amicus "friend of the court" brief in federal court, in support of NYS Attorney General Eliot Spitzer's efforts to enforce fair lending laws in New York. To read the local press release, please click here.
NEDAP featured in Washington Post article. NEDAP director Sarah Ludwig was quoted in a front page Washington Post article on the growth of deed theft, first time homebuyer scams, and other forms of mortgage fraud. "We've never seen so many schemes and such complexity to the fraud," Sarah is quoted as saying. "Everyone works to defraud: the broker, the appraiser, the attorney and the inspector. Before a homeowner knows it, they are in way over their heads."
NEDAP trains Seniors Across NYC. In June and July, NEDAP staff were busy with dozens of workshops throughout the city for organizations serving seniors in low-income neighborhoods. Topics included identity theft, understanding the differences between credit cards and debit cards, Basic Banking or "Lifeline" Accounts, predatory financial scams targeting seniors, predatory mortgage lending, and information on community development credit unions (CDCUs).
"On the Money" TV series starts July 21. NEDAP's new television series, "On the Money," debuts on Thursday, July 21, 2005 at 8:30 pm. The show is produced at Downtown Community Television (DCTV), Manhattan Neighborhood Network's (MNN) downtown satellite. Our first show is on predatory lending scams targeting seniors, homeowners, and first-time homebuyers. The next show is scheduled for August 18 and will be on payroll cards. Find the channel where you can watch "On the Money" at MNN's website.
NEDAP featured in New York Times article: "Which Mortgage? A Complicated Tale." NEDAP's Executive Director Sarah Ludwig was featured in a July 17th New York Times article describing how to navigate and avoid potential pitfalls in the mortgage process. Click here for the NYT web version or here for pdf. For more information and resources, visit NEDAP's Fair Lending Education & Outreach page.
NEDAP convenes youth microenterprise conference. On June 23 and 24, NEDAP brought together groups from around the country for a two-day gathering on youth microenterprise as a tool for social justice. The groups met for two days of working sessions and a fantastic panel featuring a broad range of youth microenterprise organizations. More information on the conference, including a report, will be coming soon. Until then, you can read more about the groups attending the gathering here.
Deed theft bill passes NY State Assembly. A bill that protects homeowners from deed theft passed the New York State Assembly on June 21. The "Home Equity Theft Prevention Act" would combat the "foreclosure rescue" scams that have cost hundreds of New Yorkers their homes. Read more about the problem here.
NEDAP article on tax refund loans. An article by NEDAP on tax refund loans, "Banks Corner the Market on Tax Time Rip-Offs," was featured in Demos' "Around the Kitchen Table."
NEDAP featured in Daily News article on Deed Theft. NEDAP was featured in a June 3rd Daily News article about the growing problem of deed theft. New Yorkers experiencing problems with deed theft should call South Brooklyn Legal Services, at (718) 246-3279.
NEDAP trains NYC Commission on Human Rights. On May 19, NEDAP trained staff at the NYC Commission on Human Rights on immigrant financial justice issues, including federal legislation affecting immigrants' access to banks and credit unions. NEDAP's Dey Del Rio was joined by Meagan van Harte from the Lower East Side People's FCU.
Workshop at Edward Reynolds High School. On May 18, NEDAP's Justin Steil and Dey Del Rio conducted a workshop on credit reports and repair for parents at the Edward Reynolds High School in upper Manhattan.
NEDAP teaches in New Haven. On May 14, NEDAP conducted an all-day financial literacy and justice course in Spanish for JUNTA for Progressive Action in New Haven, CT, training a small group of microentrepreneurs in banking, credit and budgeting basics, immigrants' financial rights, asset-building and avoiding scams.
NEDAP testifies at hearing on tax refund anticipation loans (RALs). NEDAP and other members of New Yorkers for Responsible Lending (NYRL) testified before the NYS Assembly Banks Committee on May 2, at a hearing on proposed legislation to curb abusive tax refund loans in New York State. To read an article about the hearing, click here.
NEDAP participates in Predatory Lending Seminar. On April 30, Dey Del Rio presented on fair housing and fair lending at AAFE Community Development Fund's annual Predatory Lending Prevention Seminar in Flushing, Queens.
NEDAP on "Dialogo de Costa a Costa". On April 28, NEDAP's Deyanira Del Rio appeared on "Dialogo de Costa a Costa" with other fair lending advocates to alert viewers to mortgage lending abuses and provide tips to avoid scams. The show aired live across the country, including on New York's Hispanic Information and Telecommunications Network (HITN-TV).
Bankruptcy Law Press Conference. On April 20, NEDAP Director Sarah Ludwig participated in a press conference at City Hall held by Councilman Hiram Monserrate, denouncing recently passed federal bankruptcy legislation that harms consumers.
NEDAP training on Staten Island. April 19, Dey Del Rio presented at the Staten Island Interagency Council's annual Housing Forum on mortgage and real estate abuses, including scams targeted to seniors at risk of foreclosure.
NEDAP receives award from People's Life Fund. NEDAP was honored to receive an award from the People's Life Fund on April 15th, tax day. The New York City People’s Life Fund (PLF) redirects war taxes to socially productive organizations and acts as a link with community groups.
NEDAP training at Nos Quedamos. On April 11, Deyanira Del Rio conducted a workshop on credit reports, credit repair and avoiding loan scams in Spanish for Nos Quedamos/We Stay and community residents in the Melrose section of the South Bronx.
El Diario/La Prensa features Op-Ed. El Diario/La Prensa features Op-Ed by NEDAP's Sarah Ludwig and Deyanira Del Rio on abusive tax refund loans. Read "Banks Corner Market on Tax-Time Loans / Los bancos y el reembolso de sus impuestos" English or in Spanish.
Daily News publishes editorial on RALs. New Yorkers for Responsible Lending was mentioned in the April 11th editorial in the New York Daily News. The editorial urges borrowers to avoid RALs, and discusses NYRL research showing the prevalance of RALs in low income communities and communities of color, as well as at Fort Drum.
NEDAP on WNYC: Sarah Ludwig, NEDAP's Director, appeared on the April 6 edition of the Brian Lehrer show on WNYC FM. In a timely segment, Sarah talked about tax refund anticipation loans and the siphoning of tax refund moneys from low income communities throughout New York City. Meagan Van Harte of the Lower East Side People's Federal Credit Union also appeared on the show, highlighting the free alternatives to high cost tax prep. Listen to the segment online!
Watch "On the Money, with NEDAP"! In March, NEDAP taped its first segment of "On the Money, with NEDAP" - a new show about community financial justice in New York City airing on Manhattan Neighborhood Network and other boroughs' public access tv channels. The introductory program addressed predatory tax refund loans, and featured guest Meagan van Harte from the Lower East Side People's Federal Credit Union.
NEDAP's maps compared to Jackson Pollock paintings. A recent article on the "unbanked" featured NEDAP's Deyanira Del Río and NEDAP's maps documenting disparate access to affordable financial services. As the article says, "With the intensity of a Jackson Pollock portrait, a splotchy collection of red, black and brandy-colored patterns decorates assorted maps of New York City's five boroughs. This isn't some new-fangled abstract art, though. Instead, the maps illustrate the degree of economic inequity in low-and-moderate income communities throughout the city." Read on here, and visit the Mapping Project page for more information on NEDAP's maps.
NYRL calls for end of abusive tax refund loans. NYRL members held a press conference in Albany on March 15, 2005, calling for state legislation to curb abusive tax refund anticipation loans. These loans, known as RALs, siphoned an estimated $148 million from New Yorkers' tax refunds and credits, in 2002. NYRL members participating in the press event included: NEDAP, AARP, Children's Defense Fund of NY, the NYS CDFI Coalition, and GULP.
RYSE featured in the Ave magazine The Spring 2005 issue of hip hop magazine the Ave features an article about Resources for Youth Seeking Economic Justice (RYSE), called "No Money, Mo Problems." Read the article here.
NEDAP featured in WNBC story on Refund Anticipation Loans. A February 16th segment on Channel 4's evening news featured NEDAP Director Sarah Ludwig discussing the high fees charged at many tax preparers. Read a text version of the segment at the WNBC website.
NEDAP trains local credit unions. On February 15, programs director Deyanira Del Rio conducted a presentation on immigrant financial justice issues for the NY Community Financial Network, a consortium of local, community-owned credit unions convened by NFCDCU.
NEDAP cited in New Standard News Article. NEDAP Director Sarah Ludwig was extensively cited in a February 11th article in the New Standard News, "Poor Communities and Advocates Fight Tax-Time Deception". The article discusses high cost tax preparation and national efforts to educate consumers and change regulations of tax preparers.
Free Tax Prep Sites in NYC. NEDAP has compiled a list of free tax preparation sites in New York City. The list is available here and on our publications page. You can also call 1-800-829-1040 to find the Volunteer Income Tax Assistance (VITA) site nearest you.
NEDAP cited in El Diario story on payday lending. The Feb. 3 edition of El Diario cited NEDAP's Deyanira Del Rio in an article about the NY City Council's passage of legislation on payday lending. The legislation requires payday lenders to disclose the cost of these loans in advertisements on NYC property, among other measures. Payday lenders currently advertise in NYC through aggressive "fast cash" ads on the NYC subway, as well as radio airwaves and the internet.
NEDAP trains ACCION NY. In January, Programs Director Deyanira Del Rio and Executive Director Sarah Ludwig trained 20 ACCION New York loan officers and loan consultants on financial justice issues affecting low income and immigrant New Yorkers, including payday lending, tax refund anticipation loans, rent-to-own stores, credit scoring, and the banking rights of undocumented immigrants.
NEDAP Presents on Predatory Mortgage Lending to Brooklyn Officials. Sarah Ludwig gave a presentation on predatory mortgage lending at the January service cabinet meeting for Brooklyn's district managers and Borough President Marty Markowitz. Sarah spoke about NEDAP's Fair Lending Project and the New Yorkers for Responsible Lending (NYRL) Coalition.
NEDAP on the Airwaves! NEDAP Director Sarah Ludwig was featured in a recent radio program on "Bootstrap Leadership." Sarah talks about the two-tiered financial services system and NEDAP's work for community financial justice. Listen to the interview online here. (Sarah's interview begins 21 minutes into the show.)
NEDAP Presents on Banking Issues Affecting Brooklyn Seniors. In December, Deyanira Del Rio conducted a presentation on banking and credit issues at a meeting of the Brooklyn-Wide Interagency Council on the Aging. The presentation, attended by senior organizations and advocates throughout Brooklyn, covered issues such as changes in credit reporting laws, new bank account and credit card practices seniors should be alerted to, and opportunities for advocacy.
NEDAP Trains Child Care Providers at WHEDCO. In November and December, Programs Director Deyanira Del Rio trained 50 women developing home-based day care businesses, on managing debt and asserting rights in credit reporting and repair. Two trainings were conducted, in English and Spanish, as part of the women's training through the Family and Child Care Program at the Women's Housing and Economic Development Corp (WHEDCO) in the Bronx.
NEDAP cited in Newsday Op-Ed. A Newsday Op-Ed piece on Mayor Bloomberg's State of the City address cites NEDAP, reading in part "The mayor should also borrow a page from the Neighborhood Economic Development Advocacy Project and engage in policies of consequence with banks and financial institutions that exploit city residents with predatory practices." The January 13th piece calls on the Bloomberg administration to stop doing business with banks that securitize predatory mortgage loans; to rein in high cost tax preparers offering "rapid refunds"; and to push JP Morgan Chase and Citigroup to invest in New York City neighborhoods. Read the article at NEDAP's website (PDF) or at the Newsday website.
NEDAP on Consumer Lending Panel in St. Louis. NEDAP's executive director spoke about the impact of consumer credit on neighborhoods, at the conference, "Consequences of the Consumer Lending Revolution," on December 9, in St. Louis, MO, hosted by St. Louis University School of Law.
RYSE holds training for Sistas on the Rise. RYSE Director Kat Aaron conducted a workshop for young women at Sistas on the Rise, a community organization in the South Bronx. The December 7th training addressed issues around tax preparation, avoiding high cost refund anticipation loans, and how they might organize to educate their members and community about free tax prep options.
NEDAP featured in Daily News profile. Leadership for a Changing World awardees Sarah Ludwig, Pamela Sah and Monifa Akinwole-Bandele were featured in a Daily News profile on December 3. The article focuses on NEDAP's LCW Award and our emerging Immigrant Financial Justice Project. Read the article at NEDAP's website (PDF) or at the Daily News website.
NEDAP to launch Consumer Justice Project. The New York City Consumer Justice Project, a joint project of NEDAP and South Brooklyn Legal Services, has been selected by the National Legal Aid & Defender Association and the National Consumer Law Center as the recipient of a NLADA/NCLC Consumer Law Fellowship. The Project will address an array of marketplace abuses that plague low-income communities, including payday loans, high-cost check cashing, rent-to-own stores, and unscrupulous money wirers.
NEDAP Featured on K-ROCK Radio. NEDAP appeared on K-ROCK Magazine (WXRK/92.3 FM) on November 14 and spoke about the impact of consumer credit on young people, and the advantages and disadvantages of homeownership for younger New Yorkers.
NEDAP awarded grant by the Consumer Federation of America. November 23, 2004: The Consumer Federation of America has awarded NEDAP a small grant from the Ann K. Lower State and Local Grants Program, to help build NEDAP's capacity to lead New Yorkers for Responsible Lending (NYRL). The grant will make it possible for NEDAP to create and distribute materials that NYRL member groups can access online for use in their education, advocacy, and outreach efforts.
RYSE submits comments urging consumer protections for payroll and stored value cards. On November 19, 2004, RYSE filed comments with the Federal Reserve Board of Governors asking the Fed to extend consumer protections to cover payroll cards and stored value cards. RYSE is NEDAP's Youth Financial Justice Program. The comments specifically address the concerns of young consumers and their need for consumer protections in emerging electronic banking arenas. You can read RYSE's comments online.
RYSE trains b-healthy members. RYSE met with members of the amazing local food justice group b-healthy: build healthy eating and lifestyles to help youth. We talked about how to open a bank account, about credit unions and banks, and the pros and cons of banks vs. check cashers.
NEDAP awarded Fair Lending grant. On October 25, 2004, NEDAP received a Fair Housing Initiatives Program award from HUD, along with six other New York and New Jersey fair housing organizations. One of only four New York awardees, NEDAP received its fifth FHIP grant this year to support the NYC Fair Lending Education and Outreach Program, which has trained hundreds of community groups and thousands of homeowners and first-time homebuyers on predatory mortgage lending and other critical fair housing issues.
NEDAP programs featured at NFCDCU Financial Literacy Day. NEDAP's Deyanira Del Rio and Kat Aaron participated in the National Federation of Community Development Credit Unions's (NFCDCU) 3rd Annual Financial Literacy Day on October 22. Kat spoke about the RYSE youth financial justice program on a panel entitled "Financial Education and the Youth Consumer." Dey presented NEDAP's wide range of financial literacy and justice programs serving immigrants, seniors, and other community members. The event was hosted by Union Settlement Federal Credit Union in East Harlem.
NEDAP submits comments opposing changes to CRA. NEDAP joined with colleagues around the country in opposing proposed changes to the Community Reinvestment Act (CRA) by the FDIC. NEDAP submitted a comment letter calling on the FDIC to withdraw its proposal, which would categorize FDIC-regulated banks with up to $1 billion in assets as "small banks" for CRA purposes. What this means for New York State is that 27 banks would be held to considerably weaker CRA standards, harming low and moderate income communities and paving the way for even more fringe and predatory financial services. In addition to submitting comments, NEDAP prepared a chart showing the impact of the proposed changes on New York.
NEDAP cited in New York Times article. NEDAP and our colleagues at South Brooklyn Legal Services were featured in a NY Times article on property flipping. Read the article here at NEDAP's website (PDF) or at the NY Times website (registration required).
NEDAP director moderates panel at World Hunger Year Forum. NEDAP director Sarah Ludwig moderated a panel on economic security at World Hunger Year's 2004 forum, "Living in the Shadow of Poverty," held at the New School on October 16, 2004. The panel, "Tipping the Scales: Finding economic justice for all," included award-winning journalist Mike Hudson, who spoke about his reporting on predatory mortgage lending throughout the U.S. NEDAP received WHY's 2002 Harry Chapin Self-Reliance Award.
NYRL holds Statewide Meeting New Yorkers for Responsible Lending (NYRL) held its second annual statewide meeting on October 14, in Albany. See the NYRL page for information on the coalition's work.
NEDAP receives 2004 Leadership for a Changing World Award from the Ford Foundation. NEDAP is among 18 awardees, chosen by a national selection committee from a pool of nearly 1000 nominations. The presitigious award honors individuals and leadership teams tackling some of the nation’s most entrenched social, economic and environmental challenges. NEDAP Director Sarah Ludwig and board members Monifa Akinwole-Bandele and Pamela Sah are the honorees representing the organization - visit the Leadership for a Changing World website to find out more. See below for media coverage of the award.
NEDAP convenes coalition to respond to proposed Chase-Bank One merger. In January 2004, NEDAP brought together an ad hoc coalition of eight New York groups to respond collectively to the proposed J.P. Morgan Chase - Bank One merger. The groups, including community, consumer, credit union, and legal services organizations from around the state, submitted joint comments to the Federal Reserve and testified at the Federal Reserve's public meeting on the merger in NYC, on April 15. In their public comments and testimony, the groups raised concerns regarding Chase and Bank One's home mortgage lending practices, tax refund anticipation lending, electronic benefit transfer (EBT) operations, and anticipated widespread job loss. The coalition also engaged in ongoing discussion with Chase representatives, in an effort to reach a Memorandum of Understanding regarding Chase's purchase of FHA loans, consumer finance practices, EBT operations, among other matters. The groups were ultimately unable to reach agreement with Chase, and talks ended in July 2004.
Groups participating:
NEDAP weighs in on predatory "bounce protection." In August, NEDAP submitted comments to the Federal Reserve on "bounce protection," a high-cost and deceptive form of overdraft protection offered by a growing number of banks. NEDAP also prepared a flier on this for consumers.
NEDAP launches Immigrant Financial Justice Project. NEDAP is working with grassroots groups throughout New York City to advocate for and raise awareness of undocumented and lower income immigrants' rights in the banking system.
NEDAP brings financial literacy to worker education center. In June, NEDAP and NYCfNAC presented a bilingual financial education workshop for ESL students and staff at Centro de Educación de Trabajadores (Center for Worker Education). The workshop focused on banking issues affecting immigrants, and provided information about community development credit unions in New York City.
Community Financial Literacy and Justice Curriculum© featured at national conference. Deyanira Del Río participated in a panel about financial literacy at the National Federation of CDCUs' Third Latino Credit Union Conference in Puerto Rico in June. She presented NEDAP's bilingual curriculum to an audience of community development credit unions serving Latino and immigrant populations throughout the U.S.
NEDAP trains 80 first-time homebuyers in Flushing, Queens. NEDAP's Director of Programs Deyanira Del Río conducted a Predatory Lending Prevention Seminar for first-time homebuyers at the Asian Americans for Equality (AAFE) Community Development Fund in April. Eighty homeowners and aspiring homebuyers attended the session, which was conducted in English and translated into Chinese.
NEDAP conducts fair housing training for public housing residents in Far Rockaway. NEDAP's executive director trained 22 prospective homeowners in Far Rockaway, Queens, on fair housing, the mortgage process, and how to avoid predatory loans that target first-time homebuyers. The session was part of Margert Community Corporation's homebuyer training program for people living in public housing who are contemplating homeownership.
NEDAP appears on consumer advocacy cable program. NEDAP appeared in May on two segments of "30 Minutes with Florence M. Rice," a consumer education program hosted by Florence M. Rice, long-time executive director of the Harlem Consumer Education Council. Sarah Ludwig and Kat Aaron described NEDAP's financial justice work, the importance of economic issues for youth organizing, and the ins and outs of payday lending, rent-to-own stores, and tax refund anticipation loans. The programs will be broadcast on public access channels in Manhattan and the Bronx, throughout June and July.
NEDAP trains over 600 seniors on financial literacy issues. Over the past six months, NEDAP has trained 19 seniors' groups and centers in all five boroughs on issues related to financial literacy, including identity theft, banking basics, credit reporting, debit cards, and savings options. The outreach has reached 650 seniors in Spanish, Chinese, and English.
NEDAP testifies at state banking hearing. At the invitation of New York State Assembly Banking Chair Cathy Nolan, NEDAP's executive director Sarah Ludwig delivered testimony on state consumer protections issues at a public hearing in April. NEDAP's testimony addressed the recent ruling by the Office of the Comptroller of the Currency (OCC) that national banks are not subject to state consumer protection laws, including state laws that prohibit predatory lending, and implications for low and moderate income consumers and communities.
NEDAP's program director speaks out on tax refund anticipation loans. Deyanira Del Río, Director of Programs at NEDAP, spoke on Univision TV in April about the high concentration of high cost tax refund anticipation loans (RALs) in predominantly African American and Latino communities in New York City. NEDAP's map of tax refund anticipation loans also was featured at a New York City Council press conference on rampant violations of the City's RALs disclosure law by tax preparers that offer RALs.
NEDAP submits comments on CRA proposal. NEDAP submitted written comments. to the four federal banking agencies in April, regarding proposed changes to the Community Reinvestment Act regulations. NEDAP alerted more than 100 groups in New York State about the proposed changes and the opportunity to comment.
NEDAP trains new entrepreneurs in Brooklyn. NEDAP staff conducted two lively trainings on credit topics for 20 new and prospective entrepreneurs on two evenings in April. Training participants are enrolled in Brooklyn Economic Development Corp.'s 15-session LAUNCH (Lead, Act, Undertake, Navigate, Change & Heal) program.
NEDAP holds Financial Literacy & Justice Open House! On May 20, NEDAP held its first open house for groups interested in learning more about the Community Financial Literacy and Justice Curriculum. More than 30 participants from community, microenterprise, immigrant and youth organizations attended.
RYSE presents workshop at Rikers Island. RYSE director Kat Aaron led a discussion about financial literacy and financial justice at the Island Academy, the high school at Rikers Island. The training was part of a day of women's empowerment organized by Voices Unbroken for the young women incarcerated at Rikers Island. Co-presenters included We Got Issues, Friends of Island Academy, Mothers on the Move, and Exodus Transitional Community. More than 30 young women between the ages of 16 and 21 attended the day of workshops.
RYSE holds trainings in East Harlem. Resources for Youth Seeking Economic Justice (RYSE) conducted two trainings at the East Harlem Tutorial Program in early March. The workshops discussed how to read credit card applications, how to avoid credit problems, and the impact that damaged credit can have on your future. More trainings with EHTP are planned for late May.
NEDAP Presents on Refund Anticipation Loans (RALs) at NCRC Panel. Executive Director Sarah Ludwig was asked to pinch hit on the panel, "Emerging Consumer Issues," at the annual conference of the National Community Reinvestment Coalition (NCRC) held in Washington, DC, in March. Sarah spoke about tax Refund Anticipation Loans (RALs), and described work New York advocates have undertaken to combat this usurious loan product. NEDAP staffers Chris Keeley, Celeste Moore, and Joby Thoyalil also attended the conference.
Fair Lending Outreach Project Receives Funding to Expand City-Wide. For more information on the expanded program, visit the project's web page.
Resources for Youth Seeking Economic Justice (RYSE) Receives North Star Grant. For more information on this new initiative, visit the project's web page.
Final Session of the 7th Annual Community Reinvestment Series. The Workshop Series came to a close on February 11 with the "Meet the Regulators" workshop. Materials for all sessions will be made available. If you are interested in learning more, please contact Chris Keeley at chris@nedap.org.
NEDAP hires new staff member. NEDAP welcomes Joby Thoyalil to our staff. Joby returns as NEDAP's Program Assistant after an internship with the organization in the summer of 2003.
On Tuesday, November 18, from 5:00 - 8:00 pm, NEDAP co-sponsored a Homeowners' Resource Fair at the Concourse House Chapel in the Bronx. First-time homebuyers and current homeowners received free information about reducing mortgage payments, obtaining credit counseling, lowering heating costs, and avoiding foreclosure. For more information, visit University Neighborhood Housing Program's website at www.unhp.org.
NEDAP participates in NYC Financial Literacy Day. On October 17, NEDAP participated in the second annual New York City Financial Literacy Day, presented by the National Federation of Community Development Credit Unions. NEDAP's Executive Director, Sarah Ludwig, spoke about NEDAP's Community Financial Literacy & Justice Curriculum to the audience at St. Mark's Church in Harlem.
NEDAP's anti-predatory lending project was featured as a model program in HUD's FieldWorks. The article on the Community Equity Protection Project can be found on HUD's website.
NEDAP joins with CFA and NYPIRG to hold Payday Lending Forum. The New York Payday Lending Forum was held on October 23 and featured Jean Ann Fox, of the Consumer Federation of America. Community advocates and organizers, students, community lenders, and legal services advocates attended. Topics included an overview of payday lending and updates on legislation and litigation at the city and state levels.
NEDAP joins AG as he announces lawsuit against Payday Lenders. On September 24th, NEDAP and Consumers Union joined the New York Attorney General for his press conference announcing his lawsuit against payday lenders County Bank, Telecash, and Cashnet. This lawsuit promises to bring major attention to payday lending, and in particular to the issue of rent-a-charter/state law circumvention. Dey Del Rio, Program Director at NEDAP and Coordinator of NY's Payday Lending Task Force, appeared on Univision on a relatively long segment about payday lending. The interview (done live!) was on Univision's Despierta America (Wake Up America) program, and was aired internationally.
Staff member receives 2003 OSI Community Fellowship. Kat Aaron, formerly NEDAP's Outreach Director, received a New York City Community Fellowship from the Open Society Institute to start Resources for Youth Seeking Economic Justice. RYSE is a resource center for youth groups in New York City organizing around economic justice issues, providing trainings, workshops, information, and campaign support. RYSE launched in September 2003, and is based at NEDAP. NEDAP Advisory Board member Mark Winston Griffith also received a Community Fellowship, and has launched a new organization called Talking Democracy.
NEDAP launches Financial Justice Project for Low-Income Immigrant New Yorkers. NEDAP received a seed grant from the NYU Public Interest Law Foundation to create Know-Your-Rights pamphlets for documented and undocumented immigrants, explaining their rights in the banking and financial services system. NEDAP will train community groups, facilitate legal referrals and coordinate advocacy efforts to combat discrimination against immigrant New Yorkers by financial institutions.
NEDAP hires 2 new staff members. NEDAP welcomes Celeste Day Moore and Chris Keeley to our staff. Celeste, NEDAP's new administrative assistant, has recently moved to New York from Philadelphia, and previously interned with organizations advocating against predatory and payday lending practices in North Carolina. Chris returns as NEDAP's Outreach Coordinator after an internship with the organization in 2002.
NEDAP teaches its Financial Literacy and Justice Curriculum to 25 microentrepreneurs participating in Project Enterprise's peer lending program; Sinergia, an organization that serves adults with disabilities; and high school seniors at Paul Robeson High School in Brooklyn.
NEDAP produces color maps for Bethex Federal Credit Union (Bronx) and Bushwick Cooperative Federal Credit Union (Bushwick, Brooklyn), showing the credit unions' membership, lending and community demographic patterns. NEDAP also mapped 2000 U.S. Census data, including race and income patterns, in New York City neighborhoods.
NEDAP conducts workshops on financial justice for youth members of the Central Brooklyn Partnership, who are concerned about predatory financial services in their community, and with Youth Justice at UPROSE around credit cards, consumption, and advertising as they affect youth.
NEDAP report on "Home Mortgage Lending and Foreclosures in Three New York City Neighborhoods," prepared for the New York Mortgage Coalition. The report summarizes mortgage lending patterns in Jamaica, Queens and Bedford-Stuyvesant and Cypress Hills, Brooklyn from 1998-2000.
New York State anti-predatory lending legislation goes into effect on April 3, 2003. More information on the new law, including a link to the text of the bill, can be found on NYRL's page.
NEDAP expands Fair Lending Outreach Project to the Bronx! NEDAP has received funding from HUD to expand its anti-predatory lending education and outreach project to the Bronx. NEDAP now offers free workshops, maps, and more to community groups in Brooklyn, Queens and the Bronx.
NEDAP launches Youth Financial Justice Project! NEDAP is creating a Youth Financial Literacy & Justice curriculum, and is working with youth groups to press for economic justice in their communities.
NEDAP convenes New York Payday Lending Task Force. A task force of advocates, community groups and attorneys are working together to combat predatory payday lending in New York State.
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