Help Us Get IDFPR to Hold a Public Hearing on Check Cashing Rate Increase

Woodstock Institute opposes the Rauner Administration’s proposed rate increase on checking cashing at Illinois currency exchanges.  The press release we issued critiquing the proposal is here.  Subsequently, we submitted a counterproposal, which is here.  The Department of Financial and Professional Regulation (IDFPR), which reports to Governor Rauner, offered no substantive response to our counterproposal.

Under the Illinois Administrative Procedure Act, IDFPR is required to hold a public hearing on the rate increase if at least 25 “interested individuals” submit a hearing request within 14 days of the publication of the rate increase in the Illinois Register.  The rate increase was published in the July 28 edition of the Illinois Register so we have until August 11 to submit requests for a hearing.

Attached is a form request for a hearing that I am asking that you complete and to have your co-workers, clients, colleagues, peers, friends, and family to complete.  We want to submit more the minimally required 25 requests.

Please get your completed forms to us by Thursday, August 10.  Our office is: Woodstock Institute, 29 E. Madison, Ste. 1710, Chicago, IL 60602.  If you are unable to get your completed forms to us by then, let us know and we will arrange to pick them up. 

Please e-mail to let us know that you can assist with this.  We really appreciate any help you can provide.  As always, if you have any questions or comments, let us know.