Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive
150x172_CUEffect.jpg
Contacts
LISA MCCUEVICE PRESIDENT OF COMMUNICATIONS
EDITOR-IN-CHIEF
MICHELLE WILLITSManaging Editor
RON JOOSSASSISTANT EDITOR
ALEX MCVEIGHSTAFF NEWSWRITER
TOM SAKASHSTAFF NEWSWRITER

News Now

CU System
Ireland league withdraws support on easing lending limits
DUBLIN (5/13/10)--The Irish League of Credit Unions board met last weekend to discuss possibly reversing the league's position on changes to rules that aim to ease lending limits. The rules have been criticized by some credit unions as containing too many burdensome conditions (Sunday Tribune May 9). The league initially welcomed the government's proposed changes to Section 35, which would allow credit unions to lend up to 30% of their loan portfolios in loans with terms longer than five years. The change aimed to reduce each loan payment--by spreading the payments over a longer period--for members with financial problems. However, the changes proposed also include tough rules on impairments that would hurt borrowers, said some credit unions. They said one missed payment on a rescheduled loan would require an immediate impairment for 100% of the loan's value, making it too risky for credit unions to help borrowers in trouble. That would be the opposite of what Finance Minister Brian Lenihan said was the goal behind the changes, the publication said..


RSS





print
News Now LiveWire
Construction spending drops in January, according to @CommerceGov http://t.co/W9J1mDyF8X #Market #NewsNow
5 hours ago
During Nat'l Consumer Protection Week, @TheNCUA reminds #CU members of agency resources re: rights as consumers. http://t.co/aYgW1HoDmF
6 hours ago
.@TransUnion: #millennials climbing into driver's seat with loans http://t.co/S4H9OIB3Av
8 hours ago
Breaking at #NewsNow: @CUNA backed bill introduced by @RepEdRoyce @GregoryMeeks would raise MBL cap. #CUSmallBiz http://t.co/ZDAb2UMoQz
9 hours ago
Loan growth at federally insured #creditunions in 2014 climbed to highest level since 2005, @TheNCUA reported today. Watch News Now Tues.
9 hours ago