A sweeping City Council proposal is about to change how New York’s co-ops and condos vet buyers. Intro 407 the “Reasons Bill” would force boards to issue sworn, detailed explanations for every rejection, with fines up to $25,000 and fee-shifting that supercharges litigation risk. We unpack what that really means for volunteers, applicants, and affordability: more legal exposure, higher D&O premiums, and a public trail of sensitive financial data that can follow people long after a deal falls apart.

We walk through the mechanics the bill demands, from affidavits to timing, and explain why a process that already routes discrimination claims to the NYC Commission on Human Rights doesn’t need a punitive overlay. You’ll hear how statutory “reasons” push boards toward rigid, bright-line standards, increasing denials and limiting compassionate discretion. We also explore the privacy minefield: when credit scores, debt-to-income ratios, and documentation discrepancies enter public court records, applicants and sellers clash over down payments, and buildings face suits from every direction.

This conversation isn’t about hiding decisions; it’s about designing a system that respects fairness, protects privacy, and keeps housing costs predictable. We offer practical, better alternatives: standardized category-based notices, stronger training and mediation through the Commission, and anonymized data collection that enables oversight without exposing personal financials. With a hearing set for Dec 2 at 250 Broadway, we share how board members and residents can submit testimony, show up in person, and make their case.

If you care about affordability, stable governance, and the people who volunteer to keep buildings running, this one matters. Listen, share with your board and neighbors, and help shape policy that protects both applicants and communities. Subscribe, leave a review, and tell us: what would real transparency look like without sacrificing privacy or affordability?