Lending

WASHINGTON -- Two federal agencies delivered a lump of coal to lenders earlier this week, releasing a third quarter report that says loan modifications aren't working for a significant percentage of borrowers.

WASHINGTON -- The Small Business Administration and CUNA came together earlier this week for an audio conference to discuss how the two could further encourage business lending industry given the current environment.

WASHINGTON -- Sales of new homes fell 2.9% in November, and were 35% below the levels of November 2007, the Commerce Department reported today.

INDIANAPOLIS -- The "Invest in America" auto loan deal, put forward this month by the Michigan Credit Union League, Midwest leagues and CUNA, won praise this week from Sen. Richard Lugar (R-Ind.) to help spur auto purchases.

RALEIGH, N.C. -- Grant and Lee are not only names known for the war between the North and South; Local Government FCU also paid of loans for members Richard Grant and Kelly Lee.

BRONX, NY -- Despite the current recession-or perhaps because of it-the $15 million Bethex Federal Credit Union has taken a strong position on small business and micro-lending and has recently announced a change to its lending practices.