Lending

WASHINGTON -- The turnout for a series of public forums put together by the Small Business Administration on its proposed lender oversight and risk rating system has been fairly strong with nearly 120 people attending including representatives from several credit unions.

WASHINGTON-- Offering some help to troubled homeowners, The Foreclosure Prevention Act of 2008 (S. 2636) may soon be voted on by the full Senate. Following last week's debate over amendments, the basic package has wide bipartisan support.

CHARLOTTE, N.C. -- IBM Lender Business Process Services, Inc., a subsidiary of IBM, has partnered with Coastal Federal Credit Union to provide mortgage origination and processing services.

WASHINGTON -- Even as the number of franchises has increased 65% over the past five years, this segment of the small business sector still remains an untapped market for credit unions and banks.

LITTLE ROCK, Ark. -- Arkansas Attorney General Dustin McDaniel has sent letters to 60 companies which run payday lending operations in the state asking that they shut down operations immediately or face likely lawsuits from his office, according to media reports.

HARRISBURG, Pa. -- Joining up with a state student loan agency roiled by market troubles, the Pennsylvania Credit Union Association said Monday it has set April 2 as the date for a special Webinar aimed at helping CUs transition to new funding mechanisms.

PLANO, Texas -- While markets plunged and investors panicked following news that JPMorgan Chase would buy a collapsed Bear Stearns, the impact could create more opportunities for credit unions.

TROY, Mich. -- The growing entry of Michigan's credit unions into business lending in the midst of the state's tough economy was recently in the spotlight.