Lending

In a case that appears to center around an offer from a credit union that wanted to buy a stake in a highly successful commercial lending CUSO, discussions of a bank conversion and unpaid compensation packages, three former executives with Texans Commercial Capital, LLC have filed a lawsuit against the...

Countrywide Financial announced late Friday that it would layoff as many as 12,000 workers, nearly 20% of its workforce, in an effort to trim costs in a down mortgage market. IndyMac Bancorp, another large lender also said it would trim 1,000 employees, or 10% of staff to save money.

Credit unions hit by the Norlarco failure are learning some harsh lessons about staying local and chasing yield, the chairman of the Colorado Credit Union Association William Sterner, warned Tuesday.

Given the significant growth in the size and complexity of credit unions' member business lending programs, NCUA has created a new position to help examiners assess safety and soundness.

Increasing new home sales in the western part of the country could mean the housing slump is turning the corner, NAFCU Chief Economist Tun Wai forecast.

The Maryland & D.C. Credit Union Association is urging the District of Columbia City Council to extend its current usury law to cover payday lenders in Washington, D.C.