
WCIA-TV: “We can stop sinking”: Legislators celebrate anniversary of Illinois’ break-up with payday lending
Lawmakers celebrated the one-year anniversary of the passage of the Predatory Loan Prevention Act (PLPA) on Wednesday.
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.
By Stephanie Zimmerman, November 26, 2021 Using 2019 borrower loan data obtained from state regulators, the nonprofit Woodstock Institute found the top ZIP codes for payday loans, excluding the Loop, were majority-Black… Brent Adams, senior vice president of the...
By Jeff Hirsch, November 4, 2021 Brent Adams, of the Illinois-based Woodstock Institute, a liberal policy study group, says borrowers initially feel they will be able to repay say, $500 on time. But, he says, “research shows that a...
By Steve Daniels, October 21, 2021 “This (lawsuit) is painting the Federal Reserve into a corner,” says Horacio Mendez, CEO of Chicago-based Woodstock Institute, a 48-year-old fair-lending organization. “I don’t believe this is a delay. I think they have...
By David Nicklaus, October 21, 2021 Horacio Mendez, president of the Woodstock Institute in Chicago, called the data “prima facie evidence” of “egregious redlining.” Woodstock, which does research on economic justice, joined the coalition seeking to block the merger. Complicating the...
By James Drew, October 19, 2021 SLEHCRA and two other groups, the Woodstock Institute and the National Community Reinvestment Coalition, submitted letters Monday opposing the merger to the Federal Reserve Bank of Chicago. In addition to urging regulators to...