WASHINGTON (Legal Newsline) — More than a dozen housing and consumer advocates, in a letter to a federal judge last week, questioned whether homeowner relief given under the requirements of a nationwide mortgage settlement is being given fairly to...
130530_woodstock_fdic_occ_depositadvance.pdfThis comment letter supports proposed guidance from the OCC and FDIC regarding bank deposit advance products, which are functionally equivalent to payday loans. The letter also recommends that the OCC and FDIC institute an annual percentage rate cap, require...
A bill that removes the asset limit for Temporary Assistance for Needy Families (TANF) recipients in Illinois, making it easier for them to build savings, has passed both chambers of the General Assembly and is on its way to the Governor’s desk.
Continue reading Bill that encourages savings for TANF recipients is sent to the Governor’s desk
As we mentioned earlier this week, two federal regulators have released proposed rules that would put an end to the worst practices of payday lending by banks. We need to let regulators know that we support their changes! Comments are due next week Thursday, May 30. There are two ways you can make your voice heard on this issue.
Continue reading Sign on to support proposed rules on bank payday loans
Local home prices have stabilized, but one Chicago lender is courting homeowners bracing for another downturn, offering mortgages that come with protection against falling prices. 1st Advantage Mortgage, a subsidiary of Chicago-based Draper & Kramer Inc., debuted a...
The last thing many Chicago neighborhoods need is another abandoned building. Now that Chicago Public Schools is officially closing 50 schools, that means 42 buildings will be shuttered in June. Many dot areas of the city that are already...
It will be crucial to gather as much support for Cordray as possible between now and July. We will be following up with next steps for how you can communicate with Sen. Kirk about the importance of confirming Cordray....
For almost two years, the CFPB has protected consumers from dangerous financial products and returned millions of dollars to those who were victimized by them. Yet these Senators are willing to leave consumers more vulnerable to predatory products not...
B.J. Tregoning is the reason you can't buy a house right now. Well, not exactly. But homeowners like Mr. Tregoning and his family on the Northwest Side would rather wait for home prices to rise than sell now and...
Rainbow Push Economic Conditions 130518 Cowan.pdf Presentation by Vice President Spencer Cowan on Chicago area economic indicators for the Rainbow Push Coalition.