Lending

Credit unions had $241 billion in outstanding consumer credit in October, up from the revised figure of $240.6 billion in September, according to data released yesterday by the Federal Reserve.

With news that its reorganization plan has been confirmed, CIT Group Inc. said today it anticipates emerging from Chapter 11 bankruptcy as soon as Thursday.

Fallout from the CU National Mortgage LLC fraud continues to rain down.

CUNA Mutual said other parties have responsibility and liability for the losses suffered by Educational Systems Federal Credit Union in the CU National Mortgage fraud and only went to court previously to establish that fact.

Nine of the highest-asset California credit unions reported positive ROA as of Sept. 30. Aside from reversing most of last December's corporate assessment, what did the leaders of these institutions do differently from their struggling peers?

Credit unions and banks would be encouraged to make small loans to low-income consumers by the creation of a fund to help them recover the majority of a lost loan, under a bill introduced today by Sen. Herb Kohl (D-Wis.).