New Yorkers for Responsible Lending
 NYRL News Archive
What is New Yorkers for Responsible Lending?
New Yorkers for Responsible Lending (NYRL) is a state-wide coalition that promotes access to fair and affordable financial services and the preservation of assets for all New Yorkers and their communities. NYRL is committed to fighting predatory practices in the financial services industry through policy reform, education and outreach, research and direct services. NYRL members represent community financial institutions, community-based organizations, affordable housing and first-time homebuyer groups, advocates for seniors, legal services organizations, and community reinvestment, fair lending, and consumer advocacy groups.
See the list of membership here!
NYRL is governed by a steering committee, open to all members. Members may also join one of three NYRL Working Groups on Insurance, Mortgage Lending, and Consumer Finance issues, which identify priority issues and develop recommendations to the NYRL Steering Committee.
Please contact NEDAP to learn more about NYRL: 212.680.5100 or via email.
Latest NYRL News
September 26, 2008:
The Exempt Income Protection Act (A.8527A/S.6203B) was signed into law by Governor Paterson! See NYRL's press statement for more information.
August 5, 2008:
NYS Gov. Paterson signs responsible lending and foreclosure prevention bill into law!
NYRL members with Gov. Paterson outside Queens Borough Hall, on August 5, 2008,
after signing of foreclosure prevention and responsible lending bill.
June 24, 2008:
The Exempt Income Protection Act (A.8527A/S.6203B) passes the Senate! See NYRL's press statement for more information.
June 23, 2008:
Governor Paterson and leadership from the NYS Senate and Assembly negotiate a responsible lending and foreclosure prevention bill, using the Governor's Program Bill #44 (A.10817/S.8143) as the framework for the new legislation.
June 19, 2008:
Outreach from NYRL members resulted in editorials and op-eds regarding pending foreclosure prevention and responsible lending legislation in Newsday, Buffalo News, Albany Times Union, and Schenectady Daily Gazette.
June 5, 2008:
New York Daily News piece, "Wanted: State's Mr Fixit," calls on the governor and legislature to pass foreclosure prevention and reposponsible lending legislation before the end of the session, and cites NYRL's advocacy efforts.
May 22, 2008:
NYRL holds a press event in Albany and co-sponsors a legislative briefing on the subprime lending and foreclosure crises in New York State. See the press release for more information, and media coverage from Channel 13 News and Rochester Democrat and Chronicle.
May 14, 2008:
New York Daily News article highlights the problem of frozen bank accounts containing exempt income, and promotes the Exempt Income Protection Act, mentioning NYRL's advocacy efforts to legislatively resolve this issue.
May 12, 2008:
NYRL issues press statement and testifies at a Senate Banks Committee hearing regarding Governor Paterson's responsible lending legislation, which has been introduced by Assembly Member Towns and Senator Farley (A.10817/S.8143). See press coverage from the Rochester Democrat and Chronicle, Fox News Channel 23, and Capital News Channel 9.
May 7, 2008:
The Responsible Lending Act (A.8972/S.6759), sponsored by Assembly Member Towns, passes in the NYS Assembly! It is now being considered by the Banks Committee in the NYS Senate, under the sponsorship of Senator Robach. The Exempt Income Protection Act
(A.8527/S.6203) gains new co-sponsors in the Senate: Senators LaValle, Robach and Trunzo.
April 8, 2008:
NYRL submits comments to the Federal Reserve Board of Governors regarding proposed amendments to Regulation Z, which implements the Truth in Lending Act (TILA) and the Home Ownership and Equity Protection Act (HOEPA) regulations.
March 4, 2008:
NYRL members participate in a press conference called by Governor Eliot Spitzer, to announce his responsible lending legislation. Read the Governor's press release, which quotes NYRL Steering Committee member Sarah Ludwig.
March 3, 2008:
New York State Assembly unanimously passes the Exempt Income Protection Act,
which was introduced by Helene Weinstein (D-Brooklyn), the chair of the Judiciary Committee.
The companion bill in the Senate (S.6203), introduced by Senator Volker and co-sponsored by Senator Maltese, has now been referred to the Senate Codes Committee for review.
January 17, 2008:
State Senator Joseph Robach introduces a companion bill (S.6759) to the Assembly's Responsible Lending Act (A.8972), introduced by Assembly Member Darryl
Towns. The Towns bill was based on the NYRL Responsible Lending Act model bill.
January 10, 2008:
New York Daily News op-ed piece titled "Gov's plan is one to be on" cites NYRL.
January 9, 2008:
NYRL's Steering Committee issues a press statement on Gov. Spitzer's State of the State address, regarding subprime lending and foreclosures crises.
January 4, 2008:
NYRL releases a press statement, in response to an announcement by Assembly Speaker Sheldon Silver, Assembly Banking Chair Darryl Towns, and Assembly Housing Chair Vito Lopez of a proposed set of initiatives aimed at addressing the subprime lending crisis. See the Assembly press release more information about the proposals.
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Activities and resources
New Yorkers for Responsible Lending...
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Holds community trainings to educate homeowners about the dangers of predatory lending. To schedule a community training in the New York City area, please contact us at (212) 680-5100, or via email.
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Convenes regional meetings throughout New York state for advocates and organizers to help them fight predatory lending in their area. Please contact us at (212) 680-5100, or via email, for more information on upcoming meetings.
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Conducts extensive outreach to community financial institutions, community-based organizations, affordable housing and first-time homebuyer groups, advocates for seniors, legal services organizations, community reinvestment and fair lending advocates, and consumer groups.
Join the Coalition!
New Yorkers for Responsible Lending is open to all community and advocacy organizations in New York State. Membership is not open to individuals or government bodies. To join, please fill out the sign-on form and fax or mail it to NEDAP. You can also join online. Our fax number is (212) 680-5104, and our address is New Yorkers for Responsible Lending, c/o NEDAP, 73 Spring Street, Suite 506, New York, NY 10012. See the list of membership here!
New Yorkers for Responsible Lending
c/o NEDAP, 73 Spring Street, Suite 506, New York, NY 10012
Tel: (212) 680-5100 / Fax: (212) 680-5104
Contact NYRL
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