Lending

WASHINGTON-- Responding to the continuing woes of the world's financial markets, the Federal Reserve today joined with other leading central banks to cut key interest rates.

WASHINGTON -- Bank of America has agreed to rework the mortgages of nearly 400,000 people who took out loans with Countrywide Financial.

WASHINGTON -- Due in part to less creditworthy applicants, the Small Business Administration said loan activity in August and September declined by more than 50% compared to the same period in 2007.

WASHINGTON -- Due in part to less creditworthy applicants, the Small Business Administration said loan activity in August and September declined by more than 50% compared to the same period in 2007.

WASHINGTON -- In another effort to increase the flow of credit, the Federal Reserve announced today that it will purchase short-term debt.

WASHINGTON -- Credit unions declined to comment on the immediate effect of the financial rescue plan signed into law lastFriday. But one attorney suggests that CUs look for alternative sources of capital and to Europe for new loan products.