Warren Traiger Quoted in American Banker Article, "Banks' Win in NYC Threatens Cities' Reinvestment Laws"Warren W. Traiger
Warren Traiger was quoted in Kevin Wack's American Banker article, "Banks' Win in NYC Threatens Cities' Reinvestment Laws," on Monday, August 10, 2015.
Amid the economic fallout of the financial crisis, lots of big American cities passed local laws pressuring banks to invest more in their low-income neighborhoods.
But now a federal court decision threatens to halt, and perhaps even reverse, the community groups' momentum. The ruling invalidates New York's ordinance and may have ripple effects in other cities.
"I would think this would discourage other municipalities from proceeding down a similar path," said Warren Traiger, a banking lawyer at Buckley Sandler who has kept tabs on the local ordinances.
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