This industry needs to be regulated under the 36% rate cap like all other consumer loans, writes Woodstock Institute Board Chair Tommy FitzGibbon. From Tommy FitzGibbon, Woodstock Institute Board Chair, for the Chicago Sun-Times, June 26, 2023: While Illinois’ pawnbrokers...
Rule Threatened to Re-Open the Doors to 200% APR Loans in Illinois FOR IMMEDIATE RELEASE: June 24, 2021 CONTACTS: Brent Adams, badams@woodstockinst.org, 773-844-5544 Jane Doyle, jdoyle@woodstockinst.org, 708-527-7568 CHICAGO: Consumer advocates are applauding Congress’s 218-208 vote today to repeal the...
Grovetta Gardineer, Senior Deputy Comptroller for Compliance and Community Affairs at the Office of the Comptroller of the Currency (OCC), which regulates national banks, presented on the March 15 release of a supplement to the OCC licensing handbook related...
Woodstock worked with Attorney General Lisa Madison and other consumer groups such as the Illinois Asset Building Group (IABG) and Citizen Action/Illinois to support the Student Loan Bill of Rights (SB1351) sponsored by Senator Daniel Biss and Representative Will...
Woodstock supported and commented on the rule throughout CFPB’s drafting process and sent a letter to all Illinois Senators and Congresspeople supporting the rule during its Congressional Review Act challenge in April. Twelve million American households use prepaid cards....
The rule was finalized on April 16, 2016, and is scheduled to take effect on April 10, 2017. But the Trump administration has been trying to roll back and potentially eliminate this important rule. Its latest effort is the...
One of the policies under attack is the U.S. Department of Labor (DOL)’s fiduciary rule, which was finalized on April 16, 2016, and is scheduled to take effect on April 10, 2017. The fiduciary rule requires retirement investment advisors...
The merger deal, which is expected to be completed in the third quarter, will mark Huntington’s retail entry into the Chicago market. On Monday, Chicago-based Woodstock Institute, one of the housing, community and civil rights groups that has met...
It is not surprising that someone who collects speeding tickets like baseball cards would face high auto insurance premiums. After all, insurance prices are meant to relate to the risk of loss associated with the policyholder and, also, to...
The bill on which we have spent the most time this session is SB 2804, and we have worked closely with our ally, the Illinois Asset Building Group. The bill, which is sponsored by Senator Daniel Biss, would amend...