Forbes: Taking ‘Junk Fees’ Out With The Trash: Following California’s Lead
Many online financing companies hide junk fees in their loan contracts, sometimes adding up to 14% of gross loan amounts, according to an analysis from Woodstock Institute.
Crain’s Chicago Business: The rocky path for Black and Latino homebuyers in Chicago
“We need a thriving, well-educated population that has opportunity,” says Horacio Mendez, executive director of the Woodstock Institute. “We have an unbalanced system, and we would all be better off if we figured out a way to make things...
Chicago Reader: Lose your car, but keep the debt
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...
Wall Street Journal: Too Many Vacant Lots, Not Enough Housing: The U.S. Real-Estate Puzzle
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...
KSDK News: Pawn shops exploiting loophole in Illinois law to trap desperate borrowers in a debt spiral
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...
Woodstock & Partnership For Financial Equity release “Mortgage Lending Matters”
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 –...
Illinois Treasurer Michael Frerichs Launches Universal ‘First Steps’ College Savings Program
“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...
Chicago Sun-Times: Illinois must hold pawnbrokers accountable for high interest loans to military
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...
The American Banker: OCC sets the stage for forthcoming ‘trust in banking’ survey
At Woodstock Institute’s 50th Anniversary Event, Acting Comptroller of the Currency Michael J. Hsu spoke about what steps the OCC is taking to build trust between communities and the financial institutions serving them. By Ebrima Santos Sanneh for the...
WCVB: New data shows mortgage lending in Massachusetts may be disadvantaging buyers of color
Woodstock Institute has begun working with Partnership for Financial Equity to shed new light on how the racial homeownership gap plays out in Boston and Massachusetts at large. BOSTON — The real estate market in Massachusetts is beset by...