News

NEEDHAM, Mass. - Online wholesale lending in the United States grew from 15% of total mortgage loan origination volume in 2001 to 20.5% in 2004, while online retail grew from 3.5% to 7.3%, according to TowerGroup. Both are expected to continue an upward trend, according to new research from the...

WASHINGTON-The House Financial Institutions and Consumer Credit Subcommittee held a hearing last week on data security legislation. Representatives Steve LaTourette (R-Ohio), Darlene Hooley (D-Ore.), Michael Castle (R-Del.), Domestic and International Monetary Policy Subcommittee Chairman Deborah Pryce (R-Ohio), and Dennis Moore (D-Kan.) introduced H.R. 3997, the Financial Data Protection Act of...

SYDNEY Australia - A KPMG survey of member-owned financial institutions including 66 credit unions and 12 building societies showed they are having rough sledding against banks. Building societies are co-operative banks that finance mainly mortgages.Credit unions surveyed were found to have loan growth of 8.5% and building societies of 12.5%...

ORLANDO, Fla. - BAI's 2005 Retail Delivery Conference is all about the customer, according to BAI CEO Debbie Bianucci. "The conference this year will have a focus on the customer. You'll see that thread weaved through the entire agenda to help financial services companies understand serving the customer," said Bianucci....

SARAJEVO, Bosnia and Herzegovina - Djana Fadil of the Railway Zadruga in this war-fatigued city has battled to keep his zadruga (credit union) open including resisting attempts by the government to arrest him. The zadruga has 4,700 members, a 30-person volunteer board and US$5 million in assets. It operates on...

TORONTO - Credit unions in Canada rank higher than banks and other financial institutions in most customer service measures, according to an independent national survey. The 2005 Synovate Customer Service Index found credit unions ranked highest in: * overall quality of customer service; * values "my" business; * staff service...