A bill that would provide oversight of the new $30 billion Small Business Lending Fund, including putting an inspector general in charge, has been introduced.
The $2 billion Coastal Federal Credit Union in Raleigh, N.C., has committed to using an automated investigation management solution from Aithent Inc. of New York City.
Members of the House Financial Services Committee today unveiled a series of bills that would eventually wind down mortgage buyers Fannie Mae and Freddie Mac.
Here we go again. Saying that it would “expand the options for small businesses at no expense to taxpayers,” Sen. Mark Udall (D-Colo.) last week reintroduced a measure to raise the cap on member business lending from 12.25% of assets to as much as 27.5% of assets.
Changing economic circumstances among its members have led yet another mainstream credit union to the realization that it has effectively become a community development credit union.
Among the federal government’s most controversial actions during the Great Recession was the rescue of the automobile industry.
The new Bureau of Consumer Financial Protection–which will be the driving force behind the writing and enforcement of a myriad of consumer regulations–isn’t scheduled to begin operating until July.
Reaching out to credit unions and other community financial institutions is among 2011’s goals, according to the Financial Crimes Enforcement Network’s just-released 2010 annual report.
The National Federation of Community Development Credit Unions is investigating whether and how it could use a federal bond program to help CDCUs boost their secondary capital by possibly millions of dollars.
Community Plus Federal Credit Union, Rantoul, Ill., has used the money it received under the Community Development Capital Initiative program to increase its auto lending.