SPRINGFIELD, Ill. – Jazmine was laid off during the pandemic and needed money to pay her rent. So she got a loan from a pawn shop using her cameras and Macbook Air as collateral. “Not only did they give...
Reprinted from Nov. 16 Chicago Sun-Times letters to the Editor Friday was Veterans Day, when we honor and recognize veterans for their sacrifice of blood sweat and tears in service to our country. In Illinois, though, one way veterans...
Horacio Mendez’s opinion piece highlights an opportunity for federal bank regulators to raise the bar in grading banks reinvestment performance. I’m the first leader of the nearly 50-year-old economic equity and anti-redlining advocacy organization Woodstock Institute to come to...
WTTW roundtable on Monday, Oct. 31 framed the student loan debate as part of the racial wealth gap in a conversation that included CEO Horacio Mendez. About 48 million Americans have student loan debt — totaling more than $1.75...
(The Center Square) – As lenders highlight the negative effects of the Predatory Loan Prevention Act, a new poll shows Illinoisans are in favor of the law.
Lawmakers celebrated the one-year anniversary of the passage of the Predatory Loan Prevention Act (PLPA) on Wednesday.
"Consumer advocates suspect Opportunity Financial, or OppFi, is fighting back against the limit of 36% on loan interest, but the company isn’t discussing its lobbying aims."
Woodstock Institute was proud to join fellow advocates Financial Inclusion for All Illinois, Heartland Alliance, Chicago Jobs Council, COFI, and Legal Action Chicago in fighting to get this impactful program extended for another year. “Extending this program another year...
As Black-owned banks disappear, politicians are under increasing pressure to save them. Big deposits are a ready solution, but sometimes they burden the banks more than they help.
A fintech startup wants to give people cash to take advantage of employer match programs that might otherwise be out of their reach. Advocates have concerns.