Here’s how borrowers can prepare for payments after a 3+ year forbearance period. UPDATE: Impending government shutdown could add further complications for borrowers. For Immediate Release: September 28, 2023 Contact Rob Mayormayo@woodstockinst.org | 909-471-6449 CHICAGO – On October 1st,...
Pawnbrokers Continue Making Loans at 243.3% APR Despite State Rate Cap of 36% APR ILLINOIS – The American Fintech Council (AFC), the premier industry association representing responsible fintech companies and innovative banks who are creating critical access to safe...
Woodstock Institute’s research on racial and economic disparities in Chicago’s vehicle ticketing practices is featured in this article from the Chicago Reader: “In “The Debt Spiral,” a 2018 report from Chicago’s Woodstock Institute (a nonprofit research and policy organization...
Woodstock Institute is helping Illinois student borrowers prepare as student forbearance period ends tomorrow *media interviews available* CHICAGO – The end of the student loan forbearance period will be a financial setback for the estimated 1.5 million Illinois student...
Our Director of Research Amber Hendley lent her expertise on blockbusting and contract selling for this piece. Contract buying was often the only option for Black families looking to buy a home. These had much higher interest rates than...
Woodstock Institute Senior Vice President of Policy and Advocacy Brent Adams sat down with KSDK NBC’s Mark Maxwell to talk about the many Illinois consumers struggling under the weight of unaffordable, exploitive debt along with the pawn industry’s efforts...
The Mortgage Lending Matters report and corresponding Fact Book are an in-depth, comprehensive look at mortgage lending in Massachusetts to low- and moderate-income households and borrowers of color. The new report was covered by several Massachusetts outlets: WCVB –...
“Research shows that students from low-income families with even a small amount of savings are significantly more likely to attend and finish college,” said Horacio Mendez, president and CEO at the Woodstock Institute in Chicago. “We need to make...
The report’s policy recommendations are the result of work between community organizations and different kinds of mortgage lenders, as part of the Mortgage Access Initiative led by Woodstock Institute and Neighborhood Housing Services of Chicago **Media Interviews Available Upon...
This industry needs to be regulated under the 36% rate cap like all other consumer loans, writes Woodstock Institute Board Chair Tommy FitzGibbon. From Tommy FitzGibbon, Woodstock Institute Board Chair, for the Chicago Sun-Times, June 26, 2023: While Illinois’ pawnbrokers...