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.
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.
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.
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.
