Links in “Lending”

The NCUA's decision to ease lending restrictions for credit unions in making commercial loans infuse unnecessary new risk into the financial system, is outside the scope of the credit union mission, and enables them to unfairly capitalize on their non-profit tax exemptions as they steal business from community banks, according to many irate bankers. [2/25/16]

Tracking loan program progress using a method suited for your institution could spell lending success. Using this information to follow trends and creating a schedule to meet member needs are all benefits of implementing a working program. [2/22/16]

FTC hits a group of defendants who took sensitive information from their pay-day loan websites and sold that information to entities that used the data to scam millions of dollars from the victims. [2/19/16]

TransUnion reports that 1.26 million more subprime borrowers had outstanding credit card balances in 2015 versus 2014 and 1.21 million more had auto loans. However, despite these increases, delinquency rates have not shown any significant increase. Declining energy costs and unemployment rates are cited as the likely drivers for this positive trend. [2/18/16]

When it is consistent with safe and sound lending and will have a positive impact in stabilizing and revitalizing distressed communities. [2/11/16]

Here's a report that says the CFPB is preparing to find ways to encourage banks and credit unions to offer small-dollar "rescue" loans, the type of loans other regulators have found to be risky and fraught with fair lending risks. [2/11/16]

Wells Fargo will pay $16 million to 9,000 customers who were victims of a scheme in which Genuine Title offered "valuable services" to loan officers who referred customers to them for closing services. [2/9/16]

A report from the Washington-based consulting firm revealed early credit union data trending toward double-digit growth in 2015 for the seventh consecutive quarter. The report projected year-over-year loan growth for the past year at 10.6% based on 85% of credit unions that had reported thus far. [2/3/16]

This very comprehensive article looks at how the improving economy and slowly-rising interest rates should impact your lending strategies. For example, skyrocketing student loan debt has kept many Millennials from purchasing a home, but as their earnings improve credit unions need to be ready to meet that pent up demand. This means developing strategies to compete in the home purchase market versus the refi market and a plan to address the needs of low-income borrowers and borrowers with credit challenges. [1/27/16]

In the debate over the pros and cons of credit unions and banks, this survey shows at least one thing is clear: "credit unions offer better rates than banks at almost every level on almost every product." [1/27/16]