Lending

There should be a thorough investigation of problems with the foreclosure process but no moratorium, White House spokesman Robert Gibbs said today.

Ohio's credit unions are in the midst of a member business lending surge.

The Credit Card Act of 2009 has helped the percentage of consumers dissatisfied with their credit cards drop slightly, but credit cards remain on of the lowest ranked consumer services ever.

Consumers used nearly 80% of their $29 billion in maturing CDs to pay down credit card balances in the first half of 2010.

Consumers are still reluctant to take on credit but credit unions saw a slight increase in outstanding consumer credit, according to data released by the Federal Reserve.

Effective today, the SBA has permanently increased the 7(a) loan limit from $2 million to $5 million and 504 loans to $5.5 million through provisions under the new Small Business Jobs Act of 2010.

In the wake of reports by some large lenders about problems in their foreclosure review process, the Senate Banking Committee announced today it will hold a hearing when Congress returns next month.

Grameen America, once eyeing North Carolina for the launch of a federal credit union, will receive a $450,000 grant to help spur small business growth in low-income communities there.