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Expert Testimony
Woodstock staff is regularly invited to present expert testimony before the local, state, and federal legislature, as well as regulator agencies.
DocumentsDate added
Tresury Should Reject State Farm Application to Form De Novo Bank: Testimony to U.S. Treasury
06/03/1998
Woodstock President Malcolm Bush argues that the
State Farm application will establish a critical precedent for the
terms under which insurance companies enter the banking business and in
this case seriously violates the letter and intent of the CRAand its
regulations.
Developing Opportunities for Affordable Lifeline Banking: Testimony Before the U.S. Senate
05/02/2002
Marva Williams, Woodstock Institute Senior Vice
President before the U.S. Senate Committee on Banking, Housing, and
Urban Affairs discussing the development of affordable transaction
accounts to help lower income people access the financial
mainstream. 
Testimony to the Illinois OBRE regarding changes to the Residential Mortgage Licensee Act
03/05/2003
Testimony of Geoff Smith, Woodstock Institute
research associate, to the Illinois Office of Banks and Real Estate on
several proposed changes. Woodstock opposes changes to the
regulation of high risk loans because the changes do not add any
substantive protections. Woodstock supports the proposed
licensing changes and the increase in the net worth requirements for
mortgage lenders and brokers.
Subprime Lending - Defining the Market and its Customers: Testimony to the U.S. House of Reps.
03/24/2004
Geoff Smith, Woodstock Institute project director,
discusses Woodstock Institute's research documenting the relationship
between concentrated subprime lending and neighborhood foreclosures.
Marva Williams, Woodstock Institute Senior Vice
President, testifies before the Chicago City Council Committee on
Finance on the impact of the proposed merger of Bank One and JP Morgan
Chase. Her testimony includes a summary of Bank One's previous
CRA agreement and the new Memorandum of Understanding of Community
Reinvestment Goals.
Malcolm Bush, Woodstock Institute President, testifies before the Chicago City Council on the impact of subprime and predatory lending.
Testimony of Marva Williams to the Federal Reserve Bank of Chicago on the Bank One/Chase Merger
04/23/2004
Marva Williams, Woodstock Institute Senior Vice President, states that Woodstock Institute neither supports nor opposes the proposed acqusition of Bank One by New York based JP Morgan Chase. She also states that federal banking regulators should take a bank's performance under a community reinvestment agreement into consideration during their ongoing CRA public examinations. Marva Williams, Woodstock Institute Senior Vice President, comments in favor of H.B. 1100 creating the Illinois Payday Loan Reform Act and discusses the five key consumer protections included in the bill. Testimony of Marva Williams, Woodstock Institute Senior Vice President requesting conditional approval of the H& R Block application to become a de novo thrift regulated by the OTS. Approval should only be granted if H&R Block makes a commitment to affirmatively address the lending patterns of H&R Block's subprime affiliate, Option One, commit to reducing the impact of refund anticipation loans on recipients of the Earned Income Tax Credit, and several other issues. Testimony before the US House of Representatives Subcommittee on Oversight and Investigations on OTS’s actions to weaken CRA. Comments offered suggestions to promote improvements to CRA that would increase access to lending, investments, and services in low- and moderate-income markets such as the requiring the continued reporting of small business lending data for mid-sized banks and thrifts. They also requested that the OTS collect data on new retail accounts opened for low- and moderate-income households; and promoting investment in declining and underserved rural markets. |
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