The new rate cap, which will be applied only to new loans, saves Illinois consumers over a million dollars in exorbitant fees and interest each day. A new Resource Guide offers options for people paying off a high-cost loan...
Governor Pritzker signed the Illinois Community Reinvestment Act into law, making Illinois the second state with oversight to ensure equitable investment
The Predatory Loan Prevention Act (SB1792 - PLPA), signed into law by Governor Pritzker today, marks a significant milestone for economic equity in Illinois and potentially sets the stage for other states to follow. Years in the making, advocates—including...
A new Woodstock Institute report assesses the PLPA’s impact on Illinois’ economy and refutes claims by the legislation’s opponents that the new law will cost the state jobs.
SB 1792 would cap the interest rate on loans at 36% APR Looking for alternatives to high-interest-rate payday or car-title loans? We have a guide for that! Read our Resource Guide on Affordable Alternatives A coalition of more than...
On January 13, the Illinois General Assembly passed legislation creating an Illinois Community Reinvestment Act (IL CRA) to help ensure that state regulated financial institutions better meet the needs of low- and moderate-income neighborhoods, including areas where there is...
It’s easy to go down a very dark path with regard to the motives behind these Congressional decisions, but at a time when the racial wealth gap is front and center, the current stimulus package leaves us massively disappointed....
Horacio Mendez Named New President of Woodstock Institute FOR IMMEDIATE RELEASE: July 21, 2020 CONTACT: Jenna Severson, 616-914-2844, jseverson@woodstockinst.org CHICAGO: Horacio Mendez, an experienced executive with expertise in policy, regulation, finance, research and strategy, has been named President of Woodstock Institute by its Board...
Woodstock Institute Staff Statement on Racism Against Black Lives by Police in America and Recent Protests In the past few days, we bore witness to a country overwhelmed with anger and pain. Our communities are reeling, our hearts are...
Mayor Lightfoot, Chicago Advocates Decry Plan to Weaken Anti-Redlining Rules During Pandemic, Federal Banking Regulator Intends to Gut Community Reinvestment Act FOR IMMEDIATE RELEASE: May 22, 2020 PRESS CONTACTS: For Woodstock Institute: Jenna Severson, 616-914-2844 (jseverson@woodstockinst.org) For Housing Action:...