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Written by Tom Feltner on January 12, 2009

As banks and other lenders across the country tighten credit requirements and close down lending facilities, community development financial institutions (CDFIs) continue to make quality investments in underserved neighborhoods.

Tags: policy, CDFIs
Written by on December 18, 2008

The Federal Reserve is set to take unprecedented measures to protect consumers from the credit card industry’s worst practices, such as interest rate hikes on existing balances. The final rule, expected to pass today, is the culmination of over two years of debate on how to best protect consumers from the arbitrary interest rate hikes and high fees that have come to characterize the $970 billion industry.

Written by on December 10, 2008

The Office of Thrift
Supervision, in response to numerous comments from Chicago region community organizations, has agreed
to hold a public hearing regarding a charter change for Republic Bancorp–a provider of high-cost refund anticipation loans.

Written by on December 9, 2008

Maps of neighborhood foreclosures and lender-owned, largely vacant properties, based on Woodstock Institute foreclosure data, are now available through EveryBlock, an online resource for block-by-block neighborhood news.

Written by Geoff Smith and Sarah Duda on November 13, 2008

A new analysis finds that these properties are highly concentrated in African American and Latino communities.

Written by Geoff Smith on October 15, 2008

To help combat the growing lending crisis and the rise of
foreclosures in Chicago, the John D. and Catherine T. MacArthur Foundation is
investing $68 million in grants and low-interest loans in foreclosure
prevention and mitigation efforts in local neighborhoods.

Written by Dory Rand on October 10, 2008

In recent months numerous critics have unfairly blamed the current financial crisis on efforts to increase lower-income homeownership. 

Written by on September 26, 2008

Chicago Tonight’s Carol Marin and Elizabeth Brackett sit down with Geoff Smith, Woodstock Institute’s vice president, to discuss why rising foreclosures and the national financial crisis are changing the face of Chicago region communities.

Written by on September 23, 2008

While the current Treasury plan may “unclog” the capital
markets and allow for increased access to lending for large firms, it fails to
address one the fundamental problems in today’s economy:  troubled homeowners.

Written by on September 23, 2008

Foreclosure is a local problem. To help solve it,
Woodstock Institute provides the facts on the ground, the analysis to identify
the problem, and the technical assistance to help measure local successes. Its
newest resource, a quarterly update on foreclosure patterns in the Chicago region, provides
timely foreclosure data directly to the people who need it - community
reinvestment stakeholders working to prevent foreclosures before they happen
and reduce the community impact when they do.

Written by Administrator on September 3, 2008

As a major tax refund lender seeks to change charters, the Office of Thrift Supervision needs to hold a hearing to give the public a chance to tell its side of the story about high cost refund anticipation lending.

Tags: RALs
Written by on August 19, 2008

The five key issues that must be addressed to reduce the neighborhood impact of lender-owned properties as investors shun Chicago region foreclosure auctions.

Written by on August 5, 2008

“Bait and switch clauses, double-cycle billing, and cut-off times
designed to rack up late fees––these are the practices that are
specifically prohibited by H.R. 5244,” said Woodstock President Dory
Rand.

Written by Dory Rand on July 30, 2008

What kind of contract can be changed at any time for any
reason by one party often to the detriment of the other?  Credit card contracts, but hopefully not for
much longer.

Written by on July 28, 2008

Loans at as much as 2,500 percent will still be business as usual for
nearly every major financial institution, with most bank customers
automatically, and often unknowingly, enrolled.

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