FOR IMMEDIATE RELEASE:            
Contact: Andy Morrison, (716) 308-2265, andy@neweconomynyc.org    

        
HOUSING AND COMMUNITY GROUPS RALLY OUTSIDE NYC BANKING COMMISSION, CALL ON CITY TO DIVEST FROM BANKS FUELING EVICTIONS AND ESTABLISH A PUBLIC BANK

Public Bank NYC coalition responds to new research, underscoring how banks holding City funds provide major financing to NYC’s worst evictors

 

NEW YORK, NY - Housing and community groups and other members of the Public Bank NYC coalition will rally outside a meeting of the NYC Banking Commission, calling on the City of New York to divest from banks that provide financing to landlords that routinely harass and evict NYC tenants. The rally comes on the heels of new research by the Right to Counsel NYC Coalition and partners documenting the worst evictors in “Right To Counsel” neighborhoods, and the banks that support them. 

At the rally, groups will detail the City’s financial ties to banks that fund the worst evictors. Representatives from housing and community groups will speak out about how the City’s relationships with these banks undercut its pledges to address the affordable housing crisis and prevent evictions, housing instability and homelessness. Public Bank NYC, which is calling on the City to establish a municipal public bank that would invest in permanently affordable housing and community-led economic development, will also call for increased transparency and public engagement in the determination of which financial institutions are eligible to hold City deposits.

When: Thursday, May 9th, 1:30 p.m.

Where: 66 John St. New York, NY

 

What: Action calling on NYC to divest from banks fueling evictions and to establish a municipal public bank.

 

Visuals: New Yorkers holding signs and chanting, other props

 

For more info, visit: publicbanknyc.org/news