Worth Noting

Credit Union Journal, The, February, 2003

Forecast: More Bankruptcies In '03

WASHINGTON-The American Bankruptcy Institute (ABI) is forecasting that 2003 could set a new record for bankruptcy filings. According to ABI, the Administrative Office of the U.S. Courts reported during November of 2002 that non-business bankruptcies had increased 12% during the fourth quarter of 2002 over the same period one year earlier. For the year, ABI said that personal non-business bankruptcies had increased 8%. Bankruptcy filings topped 401,000 for the quarter and 1.5 million for the year. ABI President Sam Gerdano said that one reason for the increase is the availability of credit to less qualified borrowers.

Board OKs MBL Rule For Texas

ALEXANDRIA, Va.-The NCUA board has approved a rule on member business loans...

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