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...
We’ve launched a 3-month campaign that leverages multiple media streams to direct consumers to the resources available at WeProsperIL.org, prompting them to share their story and inviting them to join the advocacy network.
Lawmakers celebrated the one-year anniversary of the passage of the Predatory Loan Prevention Act (PLPA) on Wednesday.
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.
"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 joined a coalition letter with other national consumer advocacy groups urging the Federal Deposit Insurance Corporation (FDIC) to stop permitting its supervised institutions to front for predatory lenders evading state interest rate laws.
Letter Identifies Six Out-of-State “Rogue Banks” that Enable Predatory Lenders to charge 100%+ Interest in States with Rate Caps
Raul Raymundo and TRP’s Director of Financial Wellness Lizette Carretero joined U.S. Rep. Chuy García, D-Ill. and the Woodstock Institute team in briefing 50 Latino legislative and community leaders Monday about prospects for a national 36% APR cap, affordable...
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...