Whether Amazon.com’s commercial lending pilot program succeeds will be determined over time and how its underwriting terms stack up against banks, credit unions and others.
Credit unions may have another competitor on the commercial loan front as online retail giant Amazon makes high-stake moves in the business lending space.
A Connecticut credit union won the business of historic Mystic Shipyard. Get the story in this preview from next week's print edition.
The business lending CUSO Michigan Business Connection said it recently reached $250 million in its servicing portfolio.
Agency seeking comment on proposal that would potentially allow 12,900 more firms to become eligible for its loan programs.
SNL Financial tracking firm says total loans were $27.48 billion then, $41.64 billion in second quarter 2012.
Small bank trade pushing hard for Congress to extend FDIC coverage of noninterest-bearing transaction accounts before it expires Dec. 31.
Lobbyists working on small business package that would combine credit union member business lending cap hike and bankers' TAG extension.
ICBA sends letter to Congress seeking extension of FDIC TAG insurance beyond Dec. 31 deadlines, cites concerns about concentrating assets.
The bank lobby took the opportunity Friday to point to a credit union failure as a reason to keep the current MBL cap.