Press Releases
NEDAP Praises NYS Legislature for Passing Bill to Protect New Yorkers from Abusive Debt Collection Practices
June 26, 2008
Click here for press statement.
NEDAP Lauds Governor and Legislature for Reaching Agreement on New Subprime Lending Law
June 20, 2008
NEDAP congratulates Governor Paterson, Senate Majority Leader Bruno, and Assembly Speaker Silver for their Agreement on provisions of new subprime lending legislation, with caution that details of new law will determine its effectiveness. Click here for press statement.
State Groups Release New Report Documenting Targeting of Communities of Color by High-Risk Subprime Lenders
March 6, 2008
NEDAP, along with California Reinvestment Coalition, Ohio Fair Lending Coalition, Community Reinvestment Association of North Carolina, Massachusetts Affordable Housing Alliance, Empire Justice Center, and Woodstock Institute, released a joint report examining the lending practices of a subset of subprime lenders. Read full press release.
State Groups Ask Congress to Investigate Bank of America-Countrywide Merger
February 1, 2008
NEDAP, along with California Reinvestment Coalition, CRA-NC, and Woodstock Institute, called on the U.S. Congressional Banking Committees to hold investigative hearings on the future of Countrywide borrowers and employees, in the context of Bank of America's proposed acquisition of Countrywide. Read full press release.
NEDAP Response Statement to Bush-Paulson subprime plan
December 7, 2007
Click here to view statement.
Investment Banks Challenged to Donate Their Holiday Bonuses
to Prevent Foreclosures Across America
November 28, 2007
A coalition of organizations dedicated to eliminating abusive mortgage lending and real estate practices called on some of the nation’s largest investment banks to donate their holiday bonuses to a foreclosure prevention fund that will help prevent a catastrophic wave of foreclosures in New York and across America. The coalition simultaneously released a report detailing the central role played by the top U.S. investment banks in the national subprime and foreclosure crises. Read full press release.
Consumer Groups Rally Around Mortgage Plan
October 19, 2007
Four nationally recognized community reinvestment groups roundly commended the proposal of Federal Deposit Insurance Corporation chairman Sheila C. Bair to freeze so-called “hybrid” mortgages at the introductory rate. Read full press release.
NYS Fair Lending Coalition Unveils Model Bill to End Subprime Lending Abuses and Foreclosures
May 23, 2007
New Yorkers for Responsible Lending (NYRL) unveiled new legislation today in Albany to end abusive subprime lending and foreclosures. The coalition, comprised of 131 civic and community groups from across New York State, called on state legislators and the governor to pass the bill this legislative session before any more New Yorkers lose their homes. Read full press release.
HSBC To Cease Making Predatory Pre-Tax Season Loans
March 16, 2007
NEDAP and its allies across the country today congratulated HSBC for its
announcement yesterday that it will discontinue making short-term, usurious “paystub” and “holiday”
loans, which it has been issuing through tax prep sites, such as H&R Block and Jackson Hewitt. Read full press release.
Multi-State Analysis Shows Black and Latino Borrowers Pay More for the American Dream
March 8, 2007
Blacks and Latinos in New York City are many times more likely to pay higher interest rates for home purchase loans than white New Yorkers, according to a report released today by the Neighborhood Economic Development Advocacy Project (NEDAP), along with five other groups from around the country. The report, Paying More for the American Dream: A Multi-State Analysis of Higher Cost Home Purchase Lending, summarizes home purchase loan data for New York and five other metropolitan areas in the U.S., and focuses on seven of the largest lenders in the U.S. Read the press release in pdf or html.
Tax-Time Loans Drain More Than $324 Million from NYC's Low Income Communities
January 29, 2007
NEDAP issues report on RALs made in NYC, from 2002 through 2005. Report includes detailed breakdowns of the cost of RALs by zip code, and the percentage of tax returns filed with a RAL. Maps in the report show the overwhelming concentration of RALs in low- and moderate-income neighborhoods of color. Read the press release in PDF.
Groups from Five States Demand That Jackson Hewitt End Abusive Lending Practices
January 16, 2007
Organizations Call on Jackson Hewitt CEO & President to Pay Back America’s Working Families, Present Giant Check for his Signature. Read the release in or PDF or HTML.
Tax Preparers and Banks Target Poor New Yorkers with Usurious Holiday and "Pay Stub" Loans
November 29, 2006
NEDAP issues alert to low income New Yorkers and community groups on usurious "holiday" and "pay stub" loans that tax preparers and their partner banks are making before the tax season even begins! READ MORE.
NEDAP files federal suit charging that debt collectors filed frivolous lawsuits against hundreds of AT&T Wireless Customers
September 21, 2006
NEDAP and South Brooklyn Legal Services filed a federal lawsuit today on behalf of five lower income New Yorkers, charging that two debt collection firms engaged in a pattern and practice of unlawful, unfair, and deceptive methods to collect on old debts allegedly owed to AT&T Wireless, which went out of business when it merged with Cingular in 2004. The lawsuit alleges that the companies engaged in unfair and deceptive practices and violated the Fair Debt Collection Practices Act. READ MORE.
New Yorkers Lose $92 Million Through Tax Refund Loans
New Report Shows "Rapid Refunds" Target Working Poor Taxpayers
March 1, 2006
New Yorkers lost approximately $92 million in ther tax refunds and earned income dredit to pay for usurious loan advances on their refunds and tax prep fees, according to a report released today. To read the local press release, please click here.
Wednesday, February 8, 2006 / 8:30 am - 12:30 pm
NEDAP supports NYS Attorney General's efforts to enforce fair lending laws in New York.
August 5, 2005
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.
|
