Lending

The National Consumer Law Center, a Washington based consumer protection organization released a 50 page report sharply criticizing federal, state and local mortgage modification programs for not really pushing mortgage servicers to help homeowners.

Total loans at credit unions are up 1% year to date, mirroring the same pace for member business loans.

In response to the House passage last week of the Obama's administrations plan to replace the Federal Family Education Loan Program, CUSO CU Student Choice notified credit unions that the bill has no impact on private student loans.

Federal Housing Administration Commissioner David H. Stevens today announced plans to implement a set of credit policy changes that will enhance the agency's risk management functions, including the FHA's first-ever chief risk officer.

Large U.S. credit card-issuing banks are shifting their card offerings in advance of the remaining card law changes scheduled to go into effect in February.

Borrowers who claim they were fraudulently lent money by the now failed Huron River Area Credit Union have sued NCUA in an attempt to stop the agency from collecting on the allegedly fraudulent loans.