 NEDAP News | Vol. 1 Issue 8 | August 2006
Welcome to the August edition of NEDAP News, the monthly
e-newsletter of the Neighborhood Economic Development Advocacy Project.
NEDAP Offers Progressive Financial Justice Vision for NYC
On July 18, NEDAP presented "Fair Access to Financial Services: A Progressive Economic Development Analysis," to a group of activists representing a cross-section of economic development interests in New York City. NEDAP staffers Dey Del Rio, Sarah Ludwig and Mark Winston Griffith described how fair access to credit is fundamental to equitable neighborhood development and how exploitative financial services now predominate in low income communities and neighborhoods of color. NEDAP explained the history of redlining and the Community Reinvestment Act (CRA), the far-reaching impact of banking deregulation, and the need to expand the scope and application of CRA given sweeping changes that have taken place in the financial services system.
Joining NEDAP 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.
The session was part of a broader training series organized by ReDefining Economic Development New York City (RED NYC), a coalition of organizations working to create a progressive “blueprint” and set of guiding principles for equitable economic development in New York City.
Hot off the Press: Immigrant Financial Justice Report
NEDAP recently released a report, Promoting Financial Justice for Immigrant New Yorkers, summarizing the findings from a New York City forum held on February 8, 2006. The report describes barriers immigrant New Yorkers face in the financial services system, and highlights emerging organizing and advocacy strategies by local groups to promote corporate accountability and reinvestment in immigrant neighborhoods. CLICK HERE for a copy of the report.
Resource Round-Up
Did you know that NEDAP offers a comprehensive Community Financial Literacy and Justice course to NYC community groups? Our curriculum takes a justice-based approach to financial education and emphasizes the rights of low income women, seniors and immigrants, among others. Sessions are geared to organizations' constituents and members, as well as their staff and leadership. Topics include gaining access to affordable financial services, building and protecting assets, and challenging abusive and discriminatory financial services practices.
NEDAP also conducts an extensive NYC Fair Lending Outreach and Education Project, which focuses on the neighborhood impact of predatory lending and real estate practices. NEDAP conducts community workshops and staff training on how to identify and avoid abusive practices and where to turn for financial, legal and counseling resources.
CLICK HERE to request a community financial justice workshop, and CLICK HERE for a fair lending/anti-predatory lending training. |
