Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

Washington
CUNA NCRC report needs close look
WASHINGTON (9/09/09)—The Credit Union National Association (CUNA) said Tuesday that a National Community Reinvestment Coalition (NCRC) report unfavorably comparing credit union fair lending practices to that of banks needs a closer look because past analysis of Home Mortgage Disclosure Act data has shown NCRC to be off base. “In fact,” said CUNA Vice President of Economics and Statistics Mike Schenk, “both lower-income and minority applicants are more likely to have their loans approved at credit unions than at banks.” He said CUNA will closely review the newest NCRC report, released late yesterday. The NCRC said it analyzed several credit unions and compared them to bank service to working and minority communities. The report contends credit unions lag behind banks on 64% of the fair lending indicators that were examined.


RSS print
News Now LiveWire
September is National Preparedness Month. Read how your CU can get ready in #NewsNow #NPM @AgilityRecovery @Readygov
10 hours ago
Bay Area #creditunions featured in @SFBusinessTimes article http://t.co/SE7W81Ulia
12 hours ago
#NewsNow: 8 CU advisory board, new senior leaders named at @CFPB. http://t.co/EPKgHEDRRN
14 hours ago
#NewsNow: @FTC warns of government impostor scams. http://t.co/MMWBOcrqwJ
14 hours ago
Registration open for @CUNAMutualGroup's Discovery Conference #NewNow http://t.co/CATF0j9ct1
15 hours ago