FOR IMMEDIATE RELEASE: OCTOBER 25, 2017 WOODSTOCK INSTITUTE CONTACTS: Jenna Severson (jseverson@woodstockinst.org) CHICAGO, IL – The U.S. Senate voted last night to repeal a Consumer Financial Protection Bureau rule, which limited financial institutions from forcing consumers into arbitration to resolve disputes,...
A lot is going on in the financial justice sphere these days! Let’s start with some positive news. The Consumer Financial Protection Bureau (CFPB) announced on October 5 a final rule on payday and vehicle title loans up to...
Woodstock Institute, Senator Durbin to Defend New Payday Loan Rule FOR IMMEDIATE RELEASE: OCTOBER 13, 2017 PRESS CONTACTS: Brent Adams (badams@woodstockinst.org) or Jenna Severson (jseverson@woodstockinst.org) CHICAGO, IL— U.S. Sen. Dick Durbin (D-IL) joined IL Sen. Jacqueline Collins (16th) (Chair, Senate...
A robo-advisor is, in simplest terms, a robot – an automated process—that gives financial investment advice. As a substitute for traditional human-driven wealth management service providers, robo-advisors use algorithms to automate investment decisions personalized to consumers who input their...
THE CFPB RULE The rule imposes limits and conditions on payday lenders in an effort to protect borrowers from falling into a cycle of debt. By requiring a “full-payment test,” payday lenders will be required to make an upfront...
CONSUMER FINANCIAL PROTECTION BUREAU RELEASES HISTORIC, NATIONWIDE PROTECTION AGAINST PAYDAY LOAN ABUSE Illinois Consumers Already Paying Over $500 Million in Fees FOR IMMEDIATE RELEASE: OCTOBER 5, 2017 WOODSTOCK INSTITUTE CONTACTS: Brent Adams (badams@woodstockinst.org) or Jenna Severson (jseverson@woodstockinst.org) CHICAGO, IL— Today the...
Results from the latest American Community Survey (ACS) released on September 17th illustrate persistent inequality by race and ethnicity in income and homeownership rates among Chicago residents. The ACS is an annual survey administered by the US Census Bureau...
OPINION by Dory Rand in Crain’s Chicago Angelica Rosales, a hardworking Latina parent of three children, is living paycheck to paycheck. To cash those paychecks, Rosales often goes to a currency exchange. Her reason for not having a bank...