Lending

This year may be a repeat of 2010's below-trend savings growth for credit unions as members continue to focus on paying down debt.

New England credit union CEOs James Blake and John Dwyer expect to give the Federal Reserve an earful next week drawn from differing agendas - one on mortgage lending and the other on Fed access.

Michael McGrath, the former CEO of CU National Mortgage, was sentenced to 14 years in prison today for his part in a scheme which saw some credit union mortgages fraudulently sold on the secondary market.

Credit unions and other lenders looking to increase access to inventory financing for auto, boat, RV and other dealerships will be able to do so again through the relaunch of an SBA pilot loan program.

Even with a 45% cut in its 2012 fiscal year budget proposal, the SBA said it will still be able to support small businesses.

Fannie Mae and Freddie Mac should eventually be abolished and the government should cut back its role in the housing market while financial institutions should hold more capital.