Lending

Nearly a month after it was placed into conservatorship by the NCUA, Arrowhead Central Credit Union has been prohibited from accepting any new member business loan applications.

The addition of two new credit union partners has pushed student lending program provider Fynanz to reach the milestone of 50 credit union partners.

The Fair Isaac Corp. released a revamped edition of its debt collection software that the data company said will be easier and less expensive to deploy and use.

The combination of election-year politics and the desire of lawmakers not to have to choose between credit unions and community bankers have helped erect a series of roadblocks to raising the cap on member business lending.

Sen. Susan Collins (R-Maine) has become the first member of her party to sign on as a co-sponsor of an amendment by Sen. Mark Udall (D-Colo.) that would raise the cap of 12.25% of assets to up to 27.5% of assets.

A new report from the National Consumer Law Center suggests that the push to have more social security benefits deposited directly in recipients accounts has made those recipients vulnerable to payday lending.