Lending

WASHINGTON -- Hoping to avoid another subprime crisis, the Federal Reserve on Monday approved a series of rules to more closely regulate the terms and circumstances of housing loans.

RALEIGH, N.C. -- U.S. credit unions flush with deposits and eyeing favorable investment returns might want to follow the model of the $15 billion State Employees Credit Union which is providing $1.1 billion in financial backing for a beleaguered student loan agency, the CU management suggested Friday.

DALLAS -- Texas Credit Union Commissioner Harold Feeney said his agency is working closely with the $2 billion Texans Credit Union after the institution has taken substantial hits in its construction and development portfolio.

NEW YORK -- Don't penalize your members for the bad economy and take advantage of the credit crunch by reaching out to those having trouble getting loans from weary banks.

LAS VEGAS -- American Credit Union Mortgage Association President Bob Dorsa said he can't shake the feeling that credit unions are at least partly to blame for losses in the mortgage industry. And, the recent state lawsuits brought against Countrywide Financial Corp. aren't helping any.

NEW YORK -- Equifax is now offering an online account opening solution. The APPRO offering gives credit unions and banks access to account opening, cross selling, consumer and business lending on a single platform, the company said.