WASHINGTON (2/8/16)--CUNA seeks assurance from the National Credit Union Administration that the agency will work with credit unions as they work to comply with a pending current expected credit loss proposal.
WASHINGTON (2/1/16)--As a result of concerns raised by CUNA and others in the financial services industry, the Financial Accounting Standards Board is holding a roundtable Thursday to discuss the impact of pending changes to its rules on the current expected credit loss standard (CECL).
CUNA and the Independent Community Bankers of America are partnering to encourage federal lawmakers to weigh in before the Financial Accounting Standards Board finalizes its proposal related to the impairment of financial assets.
CUNA continues to have grave concerns with the Federal Accounting Standards Board credit impairment proposal, concerns it expressed in a letter to National Credit Union Administration Chair Debbie Matz Tuesday.
With CUNA’s Bank Secrecy Act Conference, hosted in conjunction with the National Association of State Credit Union Supervisors, coming up next month, CUNA’s compliance staff went into detail of the NCUA’s BSA compliance program in a recent CompBlog entry.
The NCUA’s Tuesday announcement that it will repay the U.S. Treasury in full is a good sign for credit unions, said CUNA Chief Policy Officer Bill Hampel. The agency will repay the $1 billion outstanding balance before Oct. 31.
CUNA is overall supportive of proposed changes to the TRID rule, but asks the CFPB to continue to work on existing issues. CUNA submitted its comment letter Monday to the bureau on the proposed changes.