Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

CU System
Foulke outlines CUs concerns on Pa. mortgage bill
HARRISBURG, Pa. (6/9/09)--A credit union CEO testified on behalf of credit unions Thursday at the Pennsylvania House Commerce Committee's public hearing in Philadelphia to gather insight on a mortgage lending bill. The bill, H.B. 1042, would require mortgage lenders to meet with homeowners in trouble before a judge permits a foreclosure, said the Pennsylvania Credit Union Association (PCUA) (Life is a Highway June 8). Bruce Foulke, president/CEO of American Heritage FCU, Philadelphia, told the committee about credit unions' impeccable low foreclosure rate, how they work with members before a foreclosure situation appears, and a few minor concerns about current legislation, said PCUA. Introduced by state Rep. Michael McGeehan (D-Philadelphia), H.B. 1042 is before the committee, which is reviewing efforts already underway in some county courts to require conciliation meetings. The bill would require the Court of Common Pleas in each county to establish a residential mortgage foreclosure conciliation program to assist lenders and borrowers in achieving a mutually agreeable resolution to mortgage foreclosure action. PCUA is working with the committee and other interested parties on the measure.


RSS print
News Now LiveWire
Learn how to stay competitive with new research blog from @CUNA's econ/statistics dept in Wed's #NewsNow
12 hours ago
#FOMC meeting watch: Change in forward guidance expected #Market #NewsNow http://t.co/PH41VN1j9l
14 hours ago
Member growth at #creditunion continues despite mill closure #NewsNow http://t.co/rNRjLBjvX9
15 hours ago
CA/NV league pres/CEO Dykstra in @sacbee_news: Retailers should hold accountability in data breaches http://t.co/odyHd9N2OG
16 hours ago
Fin. lit. ideas percolate during .@NW_Banking #tweetchat #NewsNow http://t.co/nSS9Iiw0e0
16 hours ago