News

SACRAMENTO, Calif. - California Gov. Arnold Schwarzenegger's required state employees to take two unpaid days off each month next year. an attempt to corral a runaway state budget deficit that is expected to reach $42 billion by 2010.

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.

ANN ARBOR, Mich. -- Michigan Business Connection LC has hired Dave Wible, a 32-year banking and commercial lending veteran as its chief credit officer, a new position at the business lending CUSO.

WARRENVILLE, Ill. -- Balance Sheet Solutions' SimpliCD program is expanding beyond natural person credit unions, the CUSO announced today.

NEW YORK -- According to a list published by the Wall Street Journal of the nearly 100 investors tied to the $50 billion Bernard L. Madoff Ponzi scheme, credit unions and those with ties to the industry are not among the victims.

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.