Last month, Woodstock joined more than 250 organizations in sending a letter to leaders of the Office of the Comptroller of the Currency, Consumer Financial Protection Bureau, Federal Reserve Board, and Federal Deposit Insurance Corporation to end the practice of payday lending by banks.
The Consumer Financial Protection Bureau (CFPB) recently asked the public for ideas on how to promote loan affordability for private student loan borrowers, especially in periods of hardship.
Last week, we sent a letter to Sen. Kirk urging him to vote in favor of Cordray’s confirmation. Illinoisans continue to suffer the effects of predatory and deceptive financial practices. At a time when consumer debt issues have topped the list of complaints to the Illinois attorney general five years in a row, Sen. Kirk’s vote is disappointing.
There’s no two ways around it: A vote against Cordray’s confirmation is a vote for fewer protections for Illinois consumers.