Lending

WASHINGTON – The Consumer Financial Protection Bureau has released a guide detailing how its examiners will review any private student lender to ensure compliance with applicable consumer financial laws.

Great Lakes CU believes female car buyers are being ignored by lenders and is aggressively pursuing women with a unique marketing approach.

WASHINGTON – Mortgage rates declined again to near record-lows this week, according to Freddie Mac.

WASHINGTON – CUNA was boasting yesterday of the role credit unions played in yesterday’s defeat in the Senate of the Transaction Account Guarantee bill sought by the banks.

WASHINGTON – Senate Republicans erupted with anger this morning after Senate Democratic Majority Leader Harry Reid barred all amendments from the Transaction Account Guarantee bill and the Senate voted against proceeding with debate on the banker-backed bill because of the Majority Leader’s ploy, apparently dooming the bankers’ bill.

WASHINGTON – Credit union lobbyists are predicting the Senate will fall short in moving to a final vote on the bank-backed Transaction Account Guarantee bill this morning, potentially forcing the bankers to seek a deal with credit unions on the member business loan provision.

PEMBROKE PINES, Fla. – Tropical Financial CU said it doubled its expected “Black Friday” loans, aimed at helping credit-challenged members get money to buy holiday presents

In the wake of Hurricane Sandy, lenders, particularly those in the Northeast, are being cautioned to pay closer attention to the condition of auto loan collateral, especially in looking for signs of flood damage.

Customers who walk into the Millennium Honda showroom these days take a number, just like shopping in a bakery. Contrary to the typical scenario in which a salesman meets someone as soon as they step on the lot, the wait for service can sometimes be hours for a sales consultant.

Amid the tragedy that surrounds so many lives and businesses in the Northeast, Hurricane Sandy will have some positive effects on the economy.

BluCurrent CU is offering a 0% APR loan for the holidays and booked nearly $140,000 in its first seven days as a result.

The ancient Mayan calendar predicts that the world will end on Dec. 21. In response, Latitude 32 CU says that if it does, all its loans will be forgiven.

WASHINGTON – The credit union lobby is making a last-ditch effort to attach the long-sought member business loan bill to what may be the last train to leave the station this Congress, the Transaction Account Guarantee bill that would extend the guarantee on all non-interest-bearing bank and credit union accounts.

WASHINGTON – Mortgage rates ticked up slightly this week but remain near record lows, according to Freddie Mac.

WASHINTGON – CUNA and the leagues, faced with the imminent defeat of the member business loan bill again, called on Senators today to kill the bank-favored Transaction Account Guarantee bill which would extend the federal guarantee on all non-interest bearing accounts for banks and credit unions.

PLEASANTON, Calif. – Patelco CU has signed with SS&C Technologies Holdings to implement the company’s commercial loan origination and servicing platform, LMS Loan Suite.

WASHINGTON – If the credit unions are successful in getting a vote on their bill to raise the member business loan limit they might have to navigate the tax waters to do it, with several Senators shopping an amendment on behalf of the bankers that would tax all revenue from MBLs.

SPRINGFIELD, Mass. – Freedom CU was recognized by the Massachusetts District Office of the U.S. Small Business Administration as the top SBA 7a Lender in total dollars for Western Massachusetts.

KEENE, N.H. – Northeast Members Business Services LLC, an eight-year-old CUSO announced plans this morning to wind down its business and distribute its capital to its six New England credit union owners.

1st Financial FCU brought in nearly $460,000 in auto loans as part of a Black Friday promotion this year, repeating a similar special from 2011.