Lending

A new group devoted to fair mortgage lending practices is launching an initiative that includes some major credit union players.

The Small Business Administration is expecting such a large amount of requests for its new deferred-payment, no fee-loan program that is has capped the number of loans lenders can approve per week.

Black Hills Federal Credit Union President/CEO Roger Heacock will testify on CUNA's behalf on the SBA's role in providing access to capital for small businesses.

The $409 million Merrimack Valley Federal Credit Union recently teamed up with the Small Business Administration and others to encourage business start-ups and expansions.

The housing market showed signs of improvement as pending home sales increased 6.7% in April, the National Association of Realtors reported today. It was the third consecutive monthly rise.

Industrial giant General Motors Corp. today requested court approval to enter bankruptcy.