Lending

The 23,000 members of the $176 million Cabrillo Credit Union in San Diego can now sign loan documents online.

Two California-based consulting firms, Shapiro Partners and Samaha Associates, which both serve credit unions in a variety of disciplines ranging from business development and e-commerce strategy to technology management and advocacy, have merged.

Credit union mortgage organizations and trade associations are casting a wary eye on a proposed regulation meant to encourage issuers of mortgage-backed securities to use safer mortgages to back their bonds.

Around Valentine’s Day three years ago, holders of auction rate securities fell completely out of love with the debt instruments, causing a market freeze and a slew of lawsuits against the banks with claims of misrepresentation. The fallout continues.

After hearing both sides, a Financial Industry Regulatory Authority panel recently denied all claims made by the estate that was seeking more than $2 million against an investment adviser that worked for a broker-dealer acquired by SECU Brokerage Services Inc.

Sallie Mae announced that it will begin offering no-fee student checking accounts into which colleges and universities can directly disburse financial aid and tuition refunds owed to students.