Press Releases
NEDAP and Allies Call on OCC to Deny JPMorgan Chase Community Reinvestment Seal of Approval.
July 22, 2011 - Read press release.
NEDAP and Allies Release Report Showing Marked Decrease in Conventional Refinance Lending in Communities of Color.
April 28, 2011 - NEDAP releases joint report showing disparities in conventional refinance lending, based on the racial composition of neighborhoods in NYC and six other major metropolitan areas across the U.S. The report shows that, between 2008 and 2009, conventional refinance lenders significantly decreased access to homeowners in communities of color in NYC, at the same time that they more than doubled lending to homeowners in predominantly white neighborhoods. NEDAP issued the report, the fifth in the Paying More for the American Dream series, with California Reinvestment Coalition, Ohio Fair Lending Coalition, Community Reinvestment Association of North Carolina, Massachusetts Affordable Housing Alliance, Empire Justice Center, and Woodstock Institute. Read NEDAP's press release.
Predatory tax-time loans drained $52.8 million from NYC's low income communities.
Mystery Shopping Shows Persistent Fee-Gouging by NYC Tax Preparers.
April 15, 2011 - Read press release.
NEDAP and Allies Commend NYC Council for Protecting Low Income Homeowners from Foreclosure because of Tax and Water Liens.
March 2, 2011 - Read press release.
Wells Fargo Backs Off Plan to Introduce Usurious Loans in New York.
February 17, 2011 - Read press release.
NEDAP Issues Groundbreaking Report with Allies: "Debt Deception: How Debt Buyers Abuse the Legal System to Prey on Lower Income New Yorkers and People of Color"
The report exposes systematic debt collection abuses by the debt-buying industry. NEDAP issued the report with The Legal Aid Society, MFY Legal Services, and the Urban Justice Center.
May 24, 2010 - Read press release.
Groups Protest JPMorgan Chase's Abusive Practices at Annual Shareholder Meeting
May 18, 2010 - Read press release.
NEDAP Releases Joint Report Showing Sharp Decline in Prime Mortgage Lending in Communities of Color
May 13, 2010 - NEDAP releases joint report showing sharp disparities in prime mortgage lending between communities of color and predominantly white neighborhoods, in NYC and nationally, between 2006 and 2008. NEDAP issued the report, the fourth in the Paying More for the American Dream series, with California Reinvestment Coalition, Ohio Fair Lending Coalition, Community Reinvestment Association of North Carolina, Massachusetts Affordable Housing Alliance, Empire Justice Center, and Woodstock Institute. Read NEDAP's press release.
NEDAP Issues Statement Re: JPMorgan Chase's Announcement It Will No Longer Make High-Cost Tax Refund Anticipation Loans
April 29, 2010 - Click here for press statement.
Mystery Shoppers Find Rampant Abuse By NYC Tax Prepapers
April 13, 2010 - NEDAP and allies release report highlighting pervasive consumer protection violations and fee-gouging by tax preparers in NYC and around the country, as identified by undercover testers. Click here for press release.
Tax Refund Anticipation Loans (RALs) Drained $54.7 Million from NYC's Low Income Communities in Just One Year
January 19, 2010 - NEDAP released its annual report documenting the impact of RALs on NYC's lowest income neighborhoods. Click here for press release and maps.
NEDAP and Allies File Class Action Lawsuit Against Abusive Debt Collectors
January 8, 2010 - Read press release.
New Yorkers for Responsible Lending Lauds Passage of NYS Foreclosure Prevention Law
November 19, 2009 - Read press release.
NEDAP Joins Coalition Praise for NYS Attorney General's Lawsuit Against Abusive Debt Collectors
July 28, 2009 - Read press release.
NEDAP Receives Nonprofit Excellence Award in Communications from New York Times Company
July 7, 2009 - Read press release.
New Yorkers for Responsible Lending Urges the New York State Senate to Pass Law Protecting New Yorkers from Abusive Debt Collection Practices
June 24 , 2009 - New Yorkers for Responsible Lending (NYRL), a coalition of 147 organizations from across New York State, call upon the New York State Senate to pass the Consumer Credit Fairness Act. This bill was already passed by the New York State Assembly (A7558). Read full press release.
New Yorkers Targeted by Debt Collection Industry Abuses Urge Legislature to Pass Law Curbing Rampant Abuses
May 14, 2009 - New Yorkers for Responsible Lending (NYRL), a coalition of 147 organizations from across New York State, along with consumers harmed by debt collectors, held press conference in support of Consumer Credit Fairness Act. This legislation would curtail debt collection industry abuses. NYRL members testified at joint hearing of NYS Consumer Affairs and Protection, Banks and Judiciary Committees after press conference. Read full press release.
NEDAP Releases Report Showing Positive Effect of Fair Lending Regulation on Mortgage Pricing
April 23, 2009 - NEDAP releases joint report, with California Reinvestment Coalition, Ohio Fair Lending Coalition, Community Reinvestment Association of North Carolina, Massachusetts Affordable Housing Alliance, Empire Justice Center, and Woodstock Institute, on the critical role that the Community Reinvestment Act plays in promoting affordable mortgage lending to lower-income borrowers and communities in NYC and nationally. Read national press release and NYC press release.
NEDAP Testifies at New York City Council Hearing on Requiring Licensing of All Debt Buyers who Engage in Debt Collection.
February 25, 2009 - Click here for press statement.
NEDAP Joins State & National Allies in Decrying Bank's Use of TARP Funds to Make Abusive Loans.
January 5, 2009 - NEDAP joins Consumer Federation of America, National Consumer Law Center, California Reinvestment Coalition, CRA-NC, and Woodstock Institute in blasting statements from Santa
Barbara Bank & Trust that the bank intends to use funds from the U.S. Treasury’s Troubled
Assets Relief Program (TARP) to help make high-priced refund anticipation loans (RALs). Click here for groups' press statement.
NEDAP Denounces Fannie Mae & Freddie Mac's Attempts to Undermine NY's New Responsible Lending Law
August 25, 2008 - Click here for press statement.
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, releases joint report on 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 for 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 - NEDAP and three other nationally recognized community reinvestment groups commend Federal Deposit Insurance Corporation Chairman Sheila C. Bair's proposal 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.
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.
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