Lending

After the announcement that Chrysler will file for bankruptcy and has entered into an agreement with Fiat, CUcorp CEO David Adams said these events make credit unions even more important to automakers and consumers.

President Obama announced this afternoon that Chrysler will seek bankruptcy and enter an alliance with Fiat.

Loans issued by Georgia's credit unions totaled $4.0 billion in 2008, nearly identical to the $4.1 billion distributed in 2007, according to a new report from the Georgia Credit Union Affiliates.

While there continues to be speculation on the recipient of $10 billion in liquidity loans to two "problem" credit unions, NCUA is standing firm saying it never reveals who receives such loans.

Senate Majority Whip Richard Durbin said today that a vote on a measure to allow bankruptcy judges to rewrite the terms of mortgages "could come as early as next week."

Lenders filed 135,431 mortgage default notices against California homeowners during the first quarter of 2009, real estate information service MDA DataQuick reported yesterday.

A program proposed by Missouri Gov. Jay Nixon to create a $2 million pool of funds that would make available low-interest and no-interest loans to small businesses is moving forward despite some objections.

The New York Times has taken a stand critical of a proposed federal law which would cap the interest and fees from payday loans at 15% across the country.