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 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 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 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.
Written testimony outlining the five key principles of the Monsignor Egan Campaign for Payday Loan Reform presented to a working group on Short-Term Installment Lending sponsored by State Representative Julie Hamos.
Woodstock Institute supports the OCC rule implementing the Housing and Economic Recovery Act of 2008 which permits national banks to make qualified direct or indirect investments in community development projects totaling 15 percent of their combined tier one and tier two capital, so long as 51 percent of the portfolio benefits low- and moderate-income communities or families.
