Lending

The president/CEO of a large Michigan credit union has some advice on handling allowance for loan loss calculations: "use a 12-month rolling average instead of 36."

The Consumer Federation of America asked the Federal Reserve and Senate Banking Committee Chairman Christopher Dodd to give credit unions additional time to comply with provisions of a new law on mailing open-ended credit statements.

The Federal Reserve's Open Market Committee today is beginning its regularly scheduled two-day meeting to assess the state of the economy and decide whether to adjust interest rates.

Callahan & Associates has criticized data that recently appeared in USA Today in reporting on credit union's use of overdraft protection programs.

The $7 million Neighborhood Trust Federal Credit Union was one of several lenders that provided financing to more than 100 Hispanic business owners during a recent entrepreneurial fair in New York.

Those small businesses that did not have a lien, judgment, collection filing, bankruptcy or severe payment delinquencies prior to the start of the economic downturn in 2007 are doing better than other firms.