On January 13, the Illinois General Assembly passed legislation creating an Illinois Community Reinvestment Act (IL CRA) to help ensure that state regulated financial institutions better meet the needs of low- and moderate-income neighborhoods, including areas where there is...
Capitol News Illinois, Jan 10 By PETER HANCOCK SPRINGFIELD – As the General Assembly’s lame duck session moved into its third day, lawmakers in both chambers turned their attention to a sweeping bill aimed at narrowing economic disparities faced...
HB 2685, introduced in a special session of the Illinois General Assembly, caps the APR on high-cost debt at the same 36% level that protects active-service military throughout the country
The Chicago area 2019 Community Lending Fact Book identifies local mortgage and small business lending trends in the City of Chicago, Chicago’s 77 community areas, and the seven-county region of Cook, DuPage, Kane, Kendall, Lake, McHenry, and Will counties....
Several consumer advocacy groups are opposing Oportun Financial’s application for a national bank charter, citing concerns about the company’s lending and debt-collection practices.
It’s easy to go down a very dark path with regard to the motives behind these Congressional decisions, but at a time when the racial wealth gap is front and center, the current stimulus package leaves us massively disappointed....
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...
From the Responsible Business Lending Coalition Statement on behalf of the Responsible Business Lending Coalition, a network of nonprofit and for-profit lenders, investors, and small business advocates, in support of New York State’s Small Business Truth in Lending Act....
Horacio Mendez Named New President of Woodstock Institute FOR IMMEDIATE RELEASE: July 21, 2020 CONTACT: Jenna Severson, 616-914-2844, jseverson@woodstockinst.org CHICAGO: Horacio Mendez, an experienced executive with expertise in policy, regulation, finance, research and strategy, has been named President of Woodstock Institute by its Board...