Illinois CRA Comment Letter
Considering the absence of race in this NPR, it would seem that there is a disconnect between the legislative intent of the IL-CRA and the law’s proposed implementation and enforcement.
Violating Your Way to an Outstanding CRA Rating
Federal laws that were supposed to help bank regulators overcome racial discrimination didn't work, Cal Bradford shows in this article
Pawn Loans and the Wealth Gap in Illinois
Households that do not have a bank account are nearly five times as likely to be pawnshop borrowers as households with a bank account. Over 80% of pawnshop loan borrowers are unbanked, which is one reason consumers turn to...
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.
Illinois CRA proposal released; comment deadline extended to 3-16
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.
What’s next for the Community Reinvestment Act? Should race be included?
Update:
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.
What’s next for the Community Reinvestment Act? Should race be included? Lunch & Learn
Now is a good time to discuss what’s next for the Community Reinvestment Act as federal bank regulators review comments on proposed CRA regulatory reform. Join us for a virtual ‘lunch and learn’ on the topic with two experts...
2021 Annual Report: Looking Forward
This past year we saw constructive action result from the national outrage at George Floyd’s murder in 2020 including a hopeful response in Illinois and Chicago with passage of the Predatory Loan Prevention Act, Illinois CRA and Chicago’s Lending...
Lender Backsliding: Increased Loan Disparities in 2020 lunch and learn
Our new analysis found lending disparities grew in the Chicago region in 2020. Overall, we found, loan volume increased mostly due to refinance loans. Research Associate Natalie Cheng led our presentation on findings and demonstrated the latest iteration of...