Since 2006, federal Military Lending Act capped the interest rates for loans to active-duty servicemembers and their dependents at 36%, but recent consumer evidence shows pawn brokers still offering loans with 240%+ interest rate Update: you can download our...
For Immediate Release: September 27, 2022 Contact: Brent Adams | 773-844-5544 Jane Doyle | 708-527-7568 Predatory Lenders’ Predictions of Gloom-and-Doom Fail to Materialize as Consumers Embrace Illinois’s Interest Rate Cap ILLINOIS – To test predatory lenders’ claims about the...
In just one year, Illinois consumers have saved over $200 million in fees for high-cost loans, and families in underserved communities are finding safer alternatives for accessing cash
Capping payday loan interest rates worked, allowing more wealth to stay in communities as consumers find new sources of fast cash.
A new report describes how TAB Bank helps predatory lender EasyPay make high-interest puppy loans. Woodstock Institute is teaming up with national consumer and animal welfare advocates to launch a campaign to stop TAB Bank from helping EasyPay gouge...
Letter Identifies Six Out-of-State “Rogue Banks” that Enable Predatory Lenders to charge 100%+ Interest in States with Rate Caps
Santa isn’t the only one keeping a list and checking it twice this year--to recognize both good and bad actions in the area of financial services in 2021, we're releasing our first annual “Naughty & Nice List.”
Oportun Extends Credits and Refunds to Over 3,600 Illinois Borrowers, Woodstock Institute Challenges Other Lenders to Take Similar Action FOR IMMEDIATE RELEASE: November 18, 2021 PRESS CONTACT: Jane Doyle, jdoyle@woodstockinst.org, 708-527-7568 Beginning October 29 of this year, Oportun, one...
FOR IMMEDIATE RELEASE: October 19, 2021 On Monday, St. Louis Equal Housing and Community Reinvestment Alliance (SLEHCRA), Woodstock Institute and the National Community Reinvestment Coalition (NCRC) submitted comment letters opposing the proposed merger between First Mid Bank & Trust and Jefferson Bank & Trust to the Federal Reserve....
Lending Patterns by Nonbank Lenders Have Been Long Shrouded in Mystery FOR IMMEDIATE RELEASE: September 1, 2021 PRESS CONTACTS: Brent Adams, badams@woodstockinst.org, 773-844-5544 Jane Doyle, jdoyle@woodstockinst.org, 708-527-7568 Today, the Consumer Financial Protection Bureau (CFPB) released proposed rules requiring all...