The NCUA Board will vote on two final rules, the Current Expected Credit Loss (CECL) methodology and capitalization of interest, at its June 24 meeting. CUNA requested the agency move quickly to finalize both rules in a letter sent last month.

“We thank NCUA for moving to finalize these rules at its next board meeting, both proposals are necessary to provide credit unions much-needed regulatory relief as they continue to meet member needs during the pandemic,” said CUNA Chief Advocacy Officer Ryan Donovan.

CUNA supported both rules as proposed.

The complete June 24 meeting agenda is:

• Federal Credit Union Loan Interest Rate Ceiling.
• Final rule, Part 702, CECL methodology.
• Final rule, Part 741, Appendix B, Capitalization of interest.