The Association for Neighborhood and Housing Development (ANHD), New Economy Project, Legal Services NYC, and the National Community Reinvestment Coalition (NCRC) are profoundly disappointed that a U.S. district court has ruled in favor of the banking industry in striking down the NYC Responsible Banking Act (RBA). The RBA is an important transparency law that would allow the City to collect information about how well banks are serving local communities, and to consider this information when deciding where to place its deposits. Our organizations, several of which filed a detailed amicus brief in the case, call on the City to appeal this decision.
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