Lending

Under the SBA's Open Government Plan, the agency said one of its goals is to increase 7(a) active lending program participants to 3,000 by September 2011.

Some credit unions are still making small value, short term loans that they say are not payday loans, but really they still are, according to a report developed by the National Consumer Law Center.

The FBI is not commenting, but media outlets this morning are reporting that the agency is preparing a significant nationwide crackdown on mortgage fraud.

Arizona Attorney General Terry Goddard pledged Wednesday to vigorously enforce a crackdown on payday lending three weeks before the June 30 expiration of a sunset law allowing the shops to charge rates up to 400%.

According to CUNA Mutual Group's May "Credit Union Trends Report," member business loans continued to be the front runner as total loans were down 1.5% year to date.

Conventional wisdom says mortgage-issuing credit unions, like the rest of the mortgage industry, will see a downturn this year.

Still sputtering despite the gradual economic recovery, the U.S. housing market's continued recovery appears dependent upon the return of consumer and investor confidence in concert

Credit unions absolutely can and should make mortgage loans, according to a longtime CU executive, but in order to do so they need to get serious about the product.