Lending

Using TV talk shows and appearances before national public finance groups, Pennsylvania Treasurer Robin L. Wiessmann has now became a vocal advocate payday loan alternative products.

The Small Business Administration is strongly encouraging credit unions and other lenders that participate in its small business loan programs to provide deferment relief for borrowers in California's disaster-declared areas.

The North Carolina Commissioner of Banks has issued a report that says that North Carolinians have not missed payday lenders after the state deauthorized payday lending in 2001.

Beginning on January 1 of next year, members of the Consumer Financial Services Association, the trade association that claims membership from 60% of payday lenders across the country, will start posting their loan fees on large posters in their lobbies, the association has announced.

As a means to meet the mortgage and business loan needs of its members, Family First Federal Credit Union has opened its Home and Business Loan Center.

For credit unions looking for ways to increase loan volume, used car sales are an excellent vehicle. And the more credit union employees understand new car depreciation and how to help members maximize the value of used cars, the easier it will be to drive up loan volume.

The Community Financial Services Association, the trade association that says it represents 60% of the payday lending industry, will unveil a new policy that will require its members to disclose more of their fees before the small value loans are made.

Consolidating information to eliminate redundancies on forms used by the Small Business Administration's 7(a) loan program is one suggestion made by CUNA in a comment letter to the agency.