Access to Credit or Access to Debt? Under New Leadership Consumer Financial Protection Bureau Caves to Loan Sharks, Reopens Historic Payday Protections FOR IMMEDIATE RELEASE: February 6, 2018 PRESS CONTACTS: Brent Adams (badams@woodstockinst.org) or Jenna Severson (jseverson@woodstockinst.org) CHICAGO,...
Sample Response FDIC RFI Payday Loans by Banks Mr. Robert E. Feldman Executive Secretary Federal Deposit Insurance Corporation 550 17th St. NW Washington, DC 20429 Re: Small-Dollar Lending, Request for Information, RIN 3064–ZA04 Dear Executive...
Payday Loan Sharks Lose Repeal Fight Historic Payday Loan Protections Defy Congressional Threat FOR IMMEDIATE RELEASE: May 17, 2018 PRESS CONTACTS: Brent Adams (badams@woodstockinst.org) or Jenna Severson (jseverson@woodstockinst.org) CHICAGO, IL – In a victory for consumers and...
Joint Statement from Woodstock Institute, Heartland Alliance, Shriver Center, Illinois PIRG FOR IMMEDIATE RELEASE: March 27, 2018 CONTACTS: Jody Blaylock, Heartland Alliance (jblaylock@heartlandalliance.org) 904-563-0882; Kevin Herrera, Shriver Center (kevinherrera@povertylaw.org); (312)549-9877 CHICAGO, IL— Thirty-six Illinois organizations declared their support for...
Letter to Illinois Members of U.S. Senate Dear Senators Durbin and Duckworth: The undersigned Illinois organizations urge you to oppose S.J. Res. 56, sponsored by Senator Lindsey Graham. This measure would repeal the Consumer Financial Protection Bureau’s (Consumer Bureau)...
Defend New National Payday Loan Protections The Consumer Financial Protection Bureau released its long-awaited final rule on payday and auto title loans on October 5, 2017. Before the rules could take effect, however, the Consumer Bureau – now...
By Robert Reed, Chicago Tribune CHICAGO, July 3 — Many of the state’s poorest residents could soon pay more to cash a check at a local currency exchange, courtesy of a rate hike recommended by Gov. Bruce Rauner‘s administration. The Illinois agency...
CFPB’s comment period for its recently proposed payday lending rule ends Friday, October 7. The industry is flooding the CFPB with comments, so it is important for consumer advocates to make sure their voice is heard. Tell the...
Woodstock saw policy advocacy successes in the Illinois Legislature in 2016
Title lending, in which a borrower’s vehicle is used as collateral, provides small-dollar loans, but often comes with high interest rates and expensive fees. Title loan borrowers are paying triple-digit annual percentage rates (APRs) in Illinois, where there is...