Lending

The three former employees of Check 'n Go in Washington, D.C. were not fired from their jobs, according to a policy counsel with the Center for Responsible Lending.

As an article in Saturday's Denver Post took note of some Colorado credit unions' exposure to mortgage loans, including the "troubles" at Norlarco in Fort Collins, where loans in Lee County Florida make up 20% of the portfolio (with $70 million in default) two mortgage-centered CU associations are meeting here...

Margaret Dengler Ross, NCUA's member business lending program officer, which is a new position created by the agency, will be the keynote speaker at Member Business Lending, LLC's Leadership Summit in October.

The Community Financial Services Association of America hailed a Sept. 4 report from the Government Accountability Office that found some of the Department of Defense's initial report conclusions lacking evidence (see related story, page 1-60-61).

CRI Systems, Inc., a customized credit union lending channel technology provider, has promoted former Vice President of Technology Brooke W. Strohman to president of CRI Systems.

The Maryland & D.C. Credit Union Association wrote a letter to the District of Columbia City Council last week encouraging the council to extend its current 24% usury cap to cover payday lenders in Washington, D.C.

In a case that appears to center around an offer from a credit union that wanted to buy a stake in a highly successful commercial lending CUSO, discussions of a bank conversion and unpaid compensation packages, three former executives with Texans Commercial Capital, LLC have filed a lawsuit against the...

Countrywide Financial announced late Friday that it would layoff as many as 12,000 workers, nearly 20% of its workforce, in an effort to trim costs in a down mortgage market. IndyMac Bancorp, another large lender also said it would trim 1,000 employees, or 10% of staff to save money.