News

Payday lenders are attacked a piece of federal legislation aimed at protecting consumers from so-called payday loans by noting overdraft protection plans do not face similar regulations.

There was "no conspiracy" among Western Corporate Federal Credit Union executives to "make the numbers look better than they were", said Robert Burrell, former chief investment officer at the seized WesCorp.

For companies that can prove a Small Business Administration loan will actually create jobs or produce green products and services, CU Business Capital LLC has opened up $45 million in lending capacity from the agency.

The CEO of CUNA Mutual Corp. Jeff Post, is encouraging credit unions to stay united during the corporate crisis and has pledged support to help them navigate through the difficult economy.

EasCorp, the developer of DeposZip, a business and consumer remote deposit capture service, said it has signed on eight new credit union clients.

General Motors Corp, a participant along with Chrysler Corp. in "Invest in America," is extending its CU agreements through the end of 2009 with now more than 73,000 vehicle sales linked to the nationwide network.