Lending

With all of the attention on saving big banks and the auto industry, one CUSO CEO is hopeful that the new Small Business Administration leader will see the potential for small businesses to restore the nation's economy.

Member business lending will continue to be a priority for CUNA as it welcomes Karen Mills, the Small Business Administration's new administrator.

A 30-year fixed-rate mortgage averaged 4.78% this week, according to data released today by mortgage giant Freddie Mac.

Citing a number of violations, the Florida Office of Financial Regulation has issued a cease and desist order against the $1.6 billion Eastern Financial Florida Credit Union for engaging in several "unsafe and unsound" practices.

California's real estate problems have resulted in a flood of mortgage-related bills that are well- intentioned but ultimately bad for credit unions, said Bob Arnould, California Credit Union League senior vice president of governmental affairs.

The recession and its widespread job losses caused a 32 basis point increase in loan delinquencies, according to data released today by the American Bankers Association.