Woodstock Institute staff work with the press to provide research and policy expertise on issues ranging from foreclosures to predatory lending to banking reform and more. To reach a Woodstock expert, contact Drew Dickerson at 312-368-0310.
Consumer Financial Protection Bureau (CFPB) acting deputy director Steve Antonakes made a strong case yesterday before the House Financial Services Committee in support of the regulator’s data collection and analysis efforts.
Leading financial justice organizations from four key states today called on federal and state regulators to ban all types of payday lending. The organizations, from California, Illinois, New York, and North Carolina, released a report highlighting the need for strong state and federal laws and filed detailed comment letters with federal regulators urging strong action to end payday lending by banks.
Majority of Illinois private sector workers lacks access to retirement savings plans
More than half of Illinois private sector workers lack access to retirement savings plans through their jobs, a new report from Woodstock Institute found. The lack of access affects every corner of the state—more than half of private sector workers in every community in Illinois lack access to employment-based retirement savings plans.
CHICAGO--Negative equity is disproportionately concentrated in the Chicago region’s African American, Latino, and majority minority neighborhoods, a new report from Woodstock Institute found.
The report also found that borrowers in communities of color have much less equity on average than do borrowers in predominantly white communities. “Underwater homes limit opportunities for families and sap neighborhood wealth,” said Spencer Cowan, Vice President at Woodstock Institute. “When highly concentrated, underwater homes can contribute to community destabilization and the proliferation of foreclosures. The clustering of negative equity in communities of color poses hurdles to economic recovery in these areas.”