New rule lowers average credit card late fees from $32 to $8
The new rule is anticipated to save consumers more than $10 billion per year …
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Elected Officials and Financial Consumer Advocates Convened Virtual Town Hall to Present New Data on Small Business Loan Disparities
Historically, Black, Brown and low-income communities have disproportionately less safe and affordable small business financing options…
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State Sen. Christopher Belt, Woodstock Institute, and Advocates Convened Town Hall Discussing Small Business Concerns
Black and Brown communities and low-income communities continue to face an uphill battle when it comes…
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New Rule Would Cap Overdraft Fees
Consumers paid over $7.7 billion in overdraft and non-sufficient funds fees in 2022 For Immediate…
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New Report: State Interest Rate Cap has Saved Illinois Consumers More Than $600 Million
Predatory Lenders’ Attacks on the Law Expected to Continue For Immediate Release:January 16, 2024 ContactRobert…
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Statement: President Biden Vetoes Congressional Move to Stifle Transparency in Small Business Lending
Advocates are combating unfair small businesslending practices in Illinois and at the federal level …
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Rules to Implement Historic Illinois Community Reinvestment Law Postponed in Legislative Committee
Although Industry Opposes the Law, Committee Co-Chair IndicatesImplementation Will Move Forward in 2024 For…
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Town Hall Meeting Highlights Small Businesses’ Post-Pandemic Challenges
Advocates and elected officials are spearheading campaign to combat predatory small business lending practices For Immediate…
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New Fact Book Reveals Continued Racial Disparities in Chicago Area Mortgage Lending
Chicago Area Community Lending Fact Book breaks down 2022 neighborhood-level mortgage trends. Learn more at upcoming…
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Illinois Legislators Join Consumer Advocates for Briefing on 2023-24 Policy Agenda
Over the past few weeks, Woodstock Institute and our advocacy partners hosted events informing Illinois lawmakers…
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Payday Lenders’ Lawsuit Threatens to Decimate Consumer Protection Agency
Illinois advocacy groups are warning of far-reaching harm to consumers if the Supreme Court sides with…
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Illinois Student Borrowers Brace for a Potentially Chaotic Return to Monthly Student Loan Payments
Here’s how borrowers can prepare for payments after a 3+ year forbearance period. UPDATE: Impending…
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Nation’s Leading Fintech Association Joins Forces with Consumer Advocates to Close the Pawnbroker Loophole
Pawnbrokers Continue Making Loans at 243.3% APR Despite State Rate Cap of 36% APR For Immediate…
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Illinois Student Borrowers Face Financial Struggle After Supreme Court Ruling Struck Down Student Loan Forgiveness Plan
Woodstock Institute is helping Illinois student borrowers prepare as student forbearance period ends tomorrow *media interviews…
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Just-Released Report Identifies Solutions for Closing Chicago’s Racial Homeownership Gap
The report’s policy recommendations are the result of work between community organizations and different kinds of…
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State Cracks Down on Pawnbroker Who Broke the Law and Cheated Military Families
Pawn Shop charged more than 240% APR on pawn loan to active-duty servicemember For…
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A Win For Student Borrowers: Income Share Agreement Bill Held in Committee
Industry-backed bill HB1519 would codify some of the lending industry’s worst practices – establishing interest rates…
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Pawnbrokers and Their Lobbyists Win at the Expense of Illinois Consumers
Pawnbrokers to Continue Charging 240% APR or more to Illinois Veterans and Consumers For…
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