Lending

WASHINGTON -- If House Financial Services Committee Chairman Barney Frank (D-Mass.) is his chamber's answer to Santa Claus, then credit unions can expect a lot of coal and just a few goodies this year.

ELGIN, Ill. -- Six credit unions so far have adopted a new call-back feature from their electronic lending provider, Lending Solutions Inc., the company said.

WEST LAFAYETTE, Ind. -- The good news back on the farm is that growers and ranchers haven't been hit-so far-as hard as their city cousins in the current economic climate when they seek business loans.

COVENTRY, R.I. -- There's one thing that Adam Quinlan is still in awe over as the newly hired vice president of Coventry Credit Union's commercial services division: no prepayment penalties.

SAN JOSE, Calif. -- For many small businesses, a lack of cash flow has become such an issue that financial institutions like Meriwest Credit Union are encouraging owners to consider "loan workouts."

WASHINGTON -- J.P. Morgan Chase and Citigroup both said today that they won't initiate any foreclosure proceedings in the near future, while the Obama administration comes up with a foreclosure-relief program.