Lending

The Pennsylvania Credit Union Association is calling on credit unions that have business lending programs for their input on its new Business Lending Academy.

Nearly three years in the making, half a dozen U.S. credit unions teamed up Monday with a British firm, Zopa Ltd, to sign up members for a specialized person-to-person "social lending" network.

Using TV talk shows and appearances before national public finance groups, Pennsylvania Treasurer Robin L. Wiessmann has now became a vocal advocate payday loan alternative products.

The Small Business Administration is strongly encouraging credit unions and other lenders that participate in its small business loan programs to provide deferment relief for borrowers in California's disaster-declared areas.

The North Carolina Commissioner of Banks has issued a report that says that North Carolinians have not missed payday lenders after the state deauthorized payday lending in 2001.

Beginning on January 1 of next year, members of the Consumer Financial Services Association, the trade association that claims membership from 60% of payday lenders across the country, will start posting their loan fees on large posters in their lobbies, the association has announced.