The OCC should strip Oportun of CDFI status, not promote it by granting bank charter Update: The Texas Tribune & ProPublica weighed in on Oportun’s application for a national bank charter Jan. 8. Oportun, one of the few Community...
With checks likely coming soon, hold off getting a loan or look at options at 36% or less APR By Brent Adams How much and how soon are still open questions because of the dispute between Congress and the President...
Borrowers Beware! Payday and Other Storefront Loans: Convenient but Costly By Brent Adams Updated 6-12-20, 2pm Woodstock continues to advocate for policies that would protect people from predatory loans that cost 300% APR or more. The U.S. Senate has...
Woodstock Institute offers this comment in response to the Consumer Financial Protection Bureau’s (CFPB's) Notice of Proposed Rulemaking (NPRM) on payday, vehicle title, and certain high cost installment loans (the “Proposed Rule”). Thank you for the opportunity to comment...
The Illinois Payday Lending Coalition, formerly The Egan Coalition, is led by Woodstock Institute and our partners, including: Illinois PIRG* Heartland Alliance & Illinois Asset Building Group* Shriver Center on Poverty Law* Chicago Urban League* Community Organizing and Family...
From the Senior Vice President of Policy & Communication The Predatory Loan Battle Heats Up (Again) We have reached another crossroads in the battle to protect consumers from predatory payday and auto title loans. President Trump’s freshly appointed Director...
Director Kathy Kraninger ATTN: Comment Intake Bureau of Consumer Financial Protection, 1700 G Street NW Washington, DC 20552 Re: Proposal to Rescind Payday Rule’s Ability-to-Repay Requirements Docket No. CFPB-2019-0006, RIN 3170-AA80 ...
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...