The SBA has promised credit unions and other lenders that they can say goodbye to fax machines and mountains of paperwork.
The urgency to raise the MBL threshold is just as fresh when the current bill debuted last year on Valentine's Day.
The urgency to raise the MBL threshold is just as fresh as when the current bill debuted last year on Valentine's Day.
Industry experts say due diligence can help credit unions avoid losses like those suffered by the $620 million Alabama One Credit Union in Tuscaloosa, Ala., and the Small Business Administration, which were defrauded of more than $3 million by a businessman.
Losses like the $3 million case involving the SBA and Alabama One can be avoided, experts say.
Lenders need to be prepared for continual and often rapid shifts in the economy.
Come Sunday, pews across America fill with parishioners seeking a spiritual uplift as pastors share sermons to help congregations make it through another week.
This preview from our July 31 print edition looks at the risks of financing church real estate.
The lending environment is undergoing an evolution. The continual entry of new players—especially on the Internet—has sharpened competitive knives that are cutting into credit union income. Business loans are an avenue for lenders to travel, since non-interest income is becoming so critical to survival.
With much more at stake, it is no surprise that credit union service organizations are sounding the alarm louder than credit unions regarding an NCUA proposal that would alter how CUSO relationships are regulated.