Woodstock Institute influences policy at the local, regional, and national level by closely analyzing the impact of pending proposals on lower-income and minority communities. Many of these letters are available for download.
Comment on a Federal
Reserve proposal requiring financial institutions to provide an opt-out right
for overdraft loan programs. Woodstock believes that this is insufficient and
the Proposed Rule should be modified to require consumers to opt in, rather than
opt out.
Comment on a Federal Reserve
proposal requesting that the Federal Reserve set
a maximum permissible default or penalty rate for credit cards and include
additional borrower protections, eliminate double-cycle billing, eliminate
universal default, forbid unfair payment cut-off times, and add additional
borrower protections.
Comment letter in support of the FDIC’s Interim
Final Rule to permit state non-member banks to participate or assist in
financial education programs conducted on school premises, including the receipt
of deposits, payment of checks, or lending of money.
Comment letter submitted to the Internal Revenue Service regarding the disclosure and use of tax return information by tax preparers for the purpose of marketing products such as RALs.
Comment letter proposing revisions to the Federal Reserve Board’s disclosure requirements for credit card and other open end credit under the Truth in Lending Act (TILA). These comments strong support the requirement to disclose the Annual Percent Rate for these types of credit.
