Lending

Crisis management firm NachmanHaysBrownstein, Inc., said it didn't intend for its press release to imply one credit union client was to blame for the recent bankruptcy filing of U.S. Mortgage Corp. and its CU National Mortgage subsidiary.

A payday loan program offered by the $814 million Nevada Federal Credit Union has started to draw the attention of the mainstream press.

OSU Federal Credit Union CEO Rick Hein testified on Aug. 4 before the U.S. House Subcommittee on Finance and Tax on how credit unions can help small businesses access capital.

The Pine Brook, NJ-based U.S. Mortgage Corp., and its CU National Mortgage subsidiary, announced today that it has filed Chapter 11 Bankruptcy.

President Barack Obama's fiscal year 2010 budget authorizes $28 billion in loan guarantees and an appropriation of approximately $700 million for the agency.

In another move to keep bankruptcy at bay, small business lender CIT Group Inc. announced today that it is suspending dividend payments on some of its stock to improve liquidity and preserve capital.