At Woodstock Institute, we're working to create an economy where everyone has access to financial services and resources they need to prosper. We advocate for strong policy initiatives that are backed by research and that help close the racial wealth gap in Chicago, in Illinois and nationally.
Join us at 5:30 p.m. Thursday for Economy Equity: Addressing Predatory Lending and the Racial Wealth Gap
Join us for a timely, engaging event about a critical avenue to reduce the racial wealth gap. Learn more about the event and register at illinoiseconomicequity.eventbrite.com.
Close the wealth gap
Our thanks to The Chicago Community Trust for this video. The video features state Senator Jacqueline Collins, above, and Kesha Warren, whose story put a face on the issue of predatory lending in Illinois and helped lead to passage of Collins' Predatory Loan Prevention Act. It was shared in the Trust's quarterly newsletter. The newsletter also raises up work by Woodstock, Housing Action Illinois, and others to close the wealth gap by strengthening the Community Reinvestment Act.
Avoid Unfair Lending Practices 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.
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.
Coming in 2021, two new Fact Books
One book features 2020 Dodd-Frank Data, the other will aggregate the data from 34 years of Fact Book data to analyze long-term trends
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.
Looking for something in particular?
On our site you will find financial research and data stretching over the past decade and more, primarily focusing on community reinvestment as well as retirement security, student loans and other issues.
Below is our latest research report. Elsewhere on our site are resources from our Advocacy work and financial issues in the news.
On our Data Portal are maps and data from Chicago's 77 community areas and surrounding counties and communities. We also offer research reports, our latest News releases
Looking for something in particular? Feel free to reach out to us at hello@woodstockinst.org.
Today we say to our Black brothers and sisters, we hear you. Black lives matter. Black communities matter. Black futures matter
Photo, Mike Von on Unsplash
The brutal killing of Black people by police must end – and it must end now. We ask this in the name of George Floyd, Breonna Taylor, Laquan McDonald, Sandra Bland, and so many other Black lives that were taken at the hands of an officer whose job it was to protect and serve them. We hear community calls for police reform, and we agree: the system must change.
Woodstock Institute was founded in response to racial discrimination. Through our research and policy advocacy in the financial system, we are uniquely aware of how bad policymaking can perpetuate racial discrimination and breed inequity. We see this in the stark reminder of segregated communities throughout the country.
Our staff has taken the past few days to come together. We went to protest, to pass out food in our community, to reach out to our loved ones, to grieve, and to discuss how we can each better address racism in our own lives, in our communities, and in our government.
We will continue to advocate for the end of racist policymaking, be it through unscrupulous financial service providers, discrimination in housing, or unjust fines and fees. We hope you can join us in this fight.
Statement Issued June 3, 2020