Illinois’ 36% APR cap on personal loans took effect March 23, the day Governor Pritzker signed the Predatory Loan Prevention Act. “Within days, we saw an increase in Illinois’ daily application volume of about 70%," says Andy Posner, CEO...
Woodstock and fellow Chicago affordable housing advocates have been working with Ald. Harry Osterman (48th Ward) on a Lending Equity Ordinance (LEO), which was recently introduced in City Council.
Celebrating the contributions of two outstanding women and a review of mortgage data from the past 36 years were among the highlights of Woodstock Institute’s 2021 Economic Justice Awards June 10. The theme of the virtual event centered around...
Massachusetts is the only other state to have its own state-level CRA that covers credit unions and mortgage companies in addition to banks. The conversation was a deep dive into how the Massachusetts regulators implement their law.
This was just the kick-off event and IDFPR plans to hold more public events and conversations to answer questions and take comments and feedback.
Woodstock Institute was excited to see this rulemaking process begin and we look forward to strong Illinois CRA regulations that are informed by input from local communities and stakeholders like advocates, banks, credit unions, and mortgage companies. Effective implementation of our state CRA will mean more investment in the communities that need it most.
Brent Adams is representing Woodstock as one of 50 leaders of organizations advising Cook County Board President Toni Preckwinkle on ways to use a new Cook County Equity Fund fund to address racial disparities.
Woodstock Institute, Housing Action Illinois, and 55 other organizations wrote to Gov,. Pritzker asking him to support S. 1608, the Black Caucus' bill to create an Illinois Community Reinvestment Act modeled on the federal anti-redlining law that was pioneered...
Coming in 2021, two new Fact Books: one features 2020 Dodd-Frank Data, the other will aggregate the data from 34 years of Fact Book data to analyze long-term trends Fact Books, A Valuable Resource Woodstock Institute’s Community Lending Fact...
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....
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...