Our thanks for this video and their partnership to The Chicago Community Trust. The video features Kesha Warren, who graciously agreed to share her story of paying $3400 for a $1,500 loan. It was shared earlier today in the Trust's quarterly newsletter. The newsletter also raises up work by Woodstock, Housing Action Illinois, and others to close the wealth gab by strengthening the Community Reinvestment Act.


Avoid Unfair Lending Practices: our new resource guide
Our new financial resource guide, Affordable Alternatives to Payday Loans can help people navigate different options and avoid the debt-trap. Discover ways to cut expenses or debt, find additional income, and learn about lower-cost loan options.
The strategies in this resource guide are brought to you by New America Chicago, Heartland Alliance, Illinois Asset Building Group and Woodstock Institute. Together we are protecting communities from abusive financial practices.


Prevent predatory lending & support reinvestment in Illinois!
Predatory lending has a legacy of stripping wealth from communities of color, and research shows that payday and auto title lenders still disproportionately target Black and Brown neighborhoods in Chicago. Signing the Predatory Loan Prevention Act into law, and therefore protecting the assets of people of color and people experiencing poverty, is a racial and economic justice imperative.
Creating the IL CRA will support the banking, credit, and other financial service needs of low- and moderate-income communities throughout Illinois and can have significant positive impact on the Illinois Legislative Black Caucus’ efforts to promote economic access, equity, and opportunity to stop systemic racism.
News
Predatory Loan Prevention Act Signed into Law
The Predatory Loan Prevention Act (SB1792 - PLPA), signed into law by Governor Pritzker today, marks a significant milestone for economic equity in Illinois and potentially sets the stage for other states to follow. Years in the making, advocates—including a diverse coalition of 150 nonprofits, civil rights groups, lenders, faith leaders, and elected officials—applaud the work and vision set by the Illinois Black Legislative Caucus that helped make the standard-bearing bill possible in a critical financial year for so many.
New State Community Reinvestment Law Takes Aim at Lending Disparities
Governor Pritzker signed the Illinois Community Reinvestment Act into law, making Illinois the second state with oversight to ensure equitable investment
Woodstock plans two new Fact Books in 2021
Coming in 2021, two new Fact Books: one features 2020 Dodd- Frank Data, the other will aggregate the data from 34 years of Fact Book data to analyze long-term trends.