Lending

By now, credit union leaders have become accustomed to new regulations coming down the pike. Less awareness exists, however, for the importance of moving early on the steps it takes to comply with these new regulations.

Almost a year to the date since Navy Federal Credit Union launched its commercial participation loan program, the countrys largest cooperative said it is ready for changes mandated by an NCUA rule even after the regulator recently extended a compliance deadline.

BOSTON The Consumer Financial Protection Bureaus qualified mortgage rule that limits closing costs to 3% of the loan balance will have such a big impact on Midwestern credit unions, one Minnesota-based executive said hed lose money if he complied.

The traditional mental picture of credit counseling has an adviser and a client sitting together. The look-them-in-the-eye, get to really know them idea.

ELT replaces paper automotive liens with an electronic exchange of data between a states department of motor vehicles and automotive lenders.

Over the past few years, credit unions and finance companies have become increasingly important as suppliers of credit to small businesses.