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...
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....
Borrowers Beware! Payday and Other Storefront Loans: Convenient but Costly By Brent Adams Updated 6-12-20, 2pm Woodstock continues to advocate for policies that would protect people from predatory loans that cost 300% APR or more. The U.S. Senate has...
Engage Bank Advisory Councils By Brent Adams Bank advisory councils are an ideal forum to have a thoughtful discussion on the OCC/FDIC Community Reinvestment Act Proposal. Advisory councils are meant, in part, to establish a bridge of communication between...
To better assess whether financial institutions meet the lending needs of communities, the Consumer Financial Protection Bureau (CFPB) changed rules governing data collected under the Home Mortgage Disclosure Act (HMDA) in 2015. For the first time in September 2019,...
EARNcon 2019 in Pittsburgh, Pennsylvania Though the City of Pittsburgh is often lauded as “the most livable city in America,” in September of 2019, Pittsburgh’s Gender Equity Commission released a report with an alarming finding: the city is the...
The Chicago Housing Policy Task Force, convened by Neighborhood Housing Services of Chicago, announced in July the selection of the Adaptable House by Perkins & Will architect Greg Tamborino, AIA, as the winner of the Disruptive Design competition from...