Woodstock Institute recently signed on to a letter led by the Consumer Federation of America (CFA) in support of the Veterans and Consumers Fair Credit Act (S.2508) (VCFCA). The VCFCA would extend the Military Lending Act (MLA)’s all-in 36%...
Woodstock Institute recently signed on to a letter led by the National Community Reinvestment Coalition (NCRC) to comment on the merger between First Midwest Bank and Old National Bank.
Consumer advocates say the law protects car buyers by making the true cost of their auto loans more clear, and could pressure lenders to offer more favorable terms. The law does not apply to loans from banks, but does...
Illinois’ 36% APR cap on personal loans took effect March 23, the day Governor Pritzker signed the Predatory Loan Prevention Act. “Within days, we saw an increase in Illinois’ daily application volume of about 70%," says Andy Posner, CEO...
Woodstock Institute recently signed on to a letter supporting the Consumer Protection & Support Act (H.R. 2668). The letter was led by the National Association of Consumer Advocates (NACA). This bill would restore the authority of the Federal Trade...
Woodstock recently signed on to an advocates’ response to a Request for Information (RFI) from the federal Office of Management and Budget (OMB) asking for input on data, analytical methods, and stakeholder engagement strategies that federal agencies should use...
Federal financial regulators published a Request for Information (RFI) to gather input from the public on how financial institutions use artificial intelligence (AI) and machine learning (ML) in lending and what factors regulators should consider for regulatory oversight of...
Rule Threatened to Re-Open the Doors to 200% APR Loans in Illinois FOR IMMEDIATE RELEASE: June 24, 2021 CONTACTS: Brent Adams, badams@woodstockinst.org, 773-844-5544 Jane Doyle, jdoyle@woodstockinst.org, 708-527-7568 CHICAGO: Consumer advocates are applauding Congress’s 218-208 vote today to repeal the...
Woodstock signed on to a letter led by Americans for Financial Reform (AFR) urging the U.S. Department of Housing & Urban Development (HUD) to extend the deadline for FHA mortgage borrowers to apply for a COVID-19 forbearance on their...
Woodstock signed on to a letter led by the National Consumer Law Center urging Congress to pass the Congressional Review Act (CRA) resolution to overturn the Office of the Comptroller of the Currency (OCC)’s harmful true lender rule. This...