Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

CU System
Irish CUs using courts to pursue delinquent loans
DUBLIN, Ireland (8/5/11)--Irish credit unions are using the courts more frequently in pursuing delinquent loans. There were 89 judgments registered by credit unions in July compared with 43 during the same month last year (Irish Examiner Aug. 4). The total amount of the judgments jumped to $1,659,214 last month from 768,673 in July 2010. Irish credit unions will typically use legal proceedings only as a last resort, according to a spokesperson for the Irish League of Credit Unions. Recently, the Central Bank of Ireland imposed lending sanctions on some credit unions due to concerns over rising delinquencies. In June, Ireland’s credit union regulator, Registrar James O'Brien, indicated his agency would lead a wave of mergers across the sector in a move that could reduce the country's more than 400 credit unions to roughly half (News Now June 16). At the time, Paul Walsh, chief executive of the insurer, CUNA Mutual Europe, said credit unions will have a bright future only if they change their current practices and collaborate on cost cutting and improving efficiencies.


RSS print
News Now LiveWire
.@CUSocialGood, @CafeGive partnership to measure Return on Intent for social, community efforts See #NewsNow http://t.co/LfpUes76KG
41 minutes ago
Economic activity slowed in June, according to the #Chicago Fed's national activity index, released today #Market http://t.co/1pN6peM8my
16 hours ago
Money burns a hole in workers' pockets after payday, despite best intentions via @WSJeconomy http://t.co/A9SNiUdf9v
16 hours ago
"SAR Stats," new from #FinCEN, focuses on #bitcoin. See #NewsNow http://t.co/vS7iTwY2SW
18 hours ago
.@CFPB now accepts consumer complaints on prepaid cards, debt settlement services, credit repair services, and pawn and title loans.
18 hours ago