Faith leaders held a press conference December 23 to caution consumers about turning to predatory loans over the holidays.
Alternatives to High-Cost Loans and Policy Solutions to Expand Affordable Options Report co-published with CFA
We're proud to work with Consumer Federation of America to publish this report detailing alternatives to high cost loans and policy solutions to expand affordable options.
Woodstock Institute staff are eagerly reading through the newly released proposed rules implementing the Illinois Community Reinvestment Act. Join us and the Illinois CRA Coalition to weigh in on final rules for the state's new bank regulation.
Following our discussion panelist Cal Bradford shared a draft article he prepared: The CRA Prohibits Race Discrimination. Download it here.
This lunch and learn continues a series for community leaders and lenders, policy experts and others on the topic of redlining, beginning earlier this year with the (somewhat provocatively titled) Bank / Community Benefits Agreements – Game Changer or Consolation Prize?
This time around, our expert panel discussed the pros and cons of including race in the Community Reinvestment Act, CRA, responding to each others’ points.
About the panelists
- Warren W. Traiger, Senior Counsel at Buckley has played a leading role in formulating the banking industry’s position on CRA modernization, coordinating and preparing the responses of leading national trade associations and several banks to the proposed federal inter-agency rulemaking. More
- Calvin Bradford is an independent researcher and consultant who worked on the original CRA proposals and legislation. He is a board member of Woodstock Institute.
- Horacio Mendez is President & CEO of Woodstock Institute and brings experience as a former banker and policymaker as well as advocate to his role.
Testimony of Horacio Mendez at 2022 City Council Finance Committee Lending Equity Ordinance hearing on municipal depositories
CEO Horacio Mendez joined Neighborhood Housing Services of Chicago President Anthony Simpkins in presenting analysis of lending in communities by banks seeking to hold city deposits.
A court decision after passage of the Predatory Loan Prevention Act allowed pawn brokers to continue charging high APRs on loans. Now legislators hope to close the loophole.