Lending

PLYMOUTH, Mich. -- The Michigan Credit Union Foundation has been awarded a grant to make a video on foreclosure prevention. The mini-documentary will tell the story of a real family that faced foreclosure and was helped by a credit union.

WASHINGTON -- The Securities and Exchange Commission has charged five Los Angeles brokers with securities fraud, alleging that from 2005 through 2007, the brokers convinced their customers to refinance their homes with subprime mortgages so that the brokers could sell their clients unsuitable securities.

PEMBROKE PINES, Fla. -- In an effort to introduce local entrepreneurs to business services, Tropical Financial Credit Union has launched its Coffee Talks' series.

WASHINGTON-- Responding to the continuing woes of the world's financial markets, the Federal Reserve today joined with other leading central banks to cut key interest rates.

WASHINGTON -- Bank of America has agreed to rework the mortgages of nearly 400,000 people who took out loans with Countrywide Financial.

WASHINGTON -- Due in part to less creditworthy applicants, the Small Business Administration said loan activity in August and September declined by more than 50% compared to the same period in 2007.