Lending

WASHINGTON-- Responding to the continuing woes of the world's financial markets and the decline in prices, the Federal Reserve today cut a key interest rate to an all-time low.

SEATTLE - Real estate data tracking firm Zillow.com is the latest to put a dollar value on U.S. mortgage losses, reporting today that homes have lost an estimated $2 trillion in value this year.

WASHINGTON -- The Small Business Administration issued an interim final rule today for new lender oversight regulations in its guaranteed loan programs with the aim of greater enforcement authority and increase transparency on how risk is evaluated.

PROVIDENCE, R.I. -- Gov. Donald Carcieri unveiled yesterday a small business stimulus package that will invest $165 million into small and mid-sized businesses over the next two years with the help from several Rhode Island credit unions and banks.

WASHINGTON -- Concerned with reports of "predatory and exploitative" lending practices in low-income and minority communities, the Small Business Administration yesterday took to task a bank over its activities.

LANSING, Mich. -The Michigan Credit Union League teamed up with CUNA, other Midwest leagues and General Motors Corp. Wednesday in rolling out a $10 billion package of low-rate loans to purchasers of GM brands.

WASHINGTON -- Federally insured credit unions have increased loan-loss provisions substantially during the past 12 months, according to the NCUA. Provision for loan-loss expense to average assets was 0.71 as of Sept. 30, 2008, up 92% from 0.37

LANSING, Mich. -- Michigan is at the top of the nation with a whopping 9.3% unemployment rates, but the state's credit unions appear to be faring well.