WASHINGTON–NCUA has joined with other federal financial regulators in announcing their supervisory guidance does not “carry the force of law.”
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ARLINGTON, Va. –While saying it is generally supportive of NCUA’s efforts to mitigate the day-one effect of the current expected credit loss (CECL) methodology on capital levels, the National Association of State Credit Union Supervisors (NASCUS) said it would like to see several changes made to the proposal.
WASHINGTON—In response to NCUA's proposed rule to create a three-year phase-in of the day-one adverse impacts of the current expected credit loss (CECL) accounting standard on federally-insured credit unions' net worth ratio, NAFCU expressed support for the concept, but also again called for a longer phase-in option and additional examination flexibility.
WASHINGTON—CUNA and NAFCU joined other organizations to call on House and Senate Small Business Committee leaders to fix an issue reducing value of Paycheck Protection Program (PPP) loan forgiveness.
WASHINGTON–The National Credit Union Foundation said it will not present Herb Wegner Awards in 2021 but will host an online event to ensure the annual celebration continues.
JOLIET, Ill. –Two Illinois credit unions say they are moving forward with a merger following a vote by members.
HONG KONG – China has concluded its largest-ever pilot project to date for a central bank-backed digital yuan, with analysts saying the trial extended the country’s lead in the global race to develop a central bank digital currency (CBDC).
WASHINGTON—In remarks to the International Monetary Fund (IMF) annual meeting, Federal Reserve Chairman Jerome Powell discussed cross-border payments and digital currencies.
MARLBOUROUGH, Mass.– The Cooperative Credit Union Association has announced the results of its recent board elections.
GREENVILLE, S.C.–Three credit unions have been selected as finalists for a “strategic credit union makeover” as part of a promotion by CU Impossible.