WASHINGTON—The Financial Accounting Services Board (FASB) has issued a delay to the current expected credit loss (CECL) standard by an additional year – until 2023 – for not-for-profits, including credit unions.
Fresh Today
WASHINGTON–Five federal agencies, including NCUA, have responded to a letter from Sen. Michael Bennet (D-CO) that sought clarification on banking hemp businesses, such as those that manufacture or sell CBD-related products.
SAN FRANCISCO–State regulators here got an update from NCUA on everything from plans for a subordinated debt rule and expanded powers for CUSOs to what to do about disclosure-related rules around mergers—where some regulators want to see conflicts in the rules addressed.
SAN FRANCISCO–If you face a crisis today and will have to wing it when it comes to responding, you’ve just set yourself up for a second—and perhaps even bigger—crisis, according to one person.
MADISON, Wis.—Seventy-nine percent of organizations feel only “a little bit” or not prepared for an active shooter incident, reports CUNA Mutual Group, saying that preparing for an active shooter is something all credit unions need to take seriously.
MADISON, Wis.—Keeping ahead of the complex array of constantly changing risks is challenging for CUs, says CUNA Mutual Group, which outlined the latest fraud trends that should be on credit unions’ radar.
MADISON, Wis.—Getting money from the credit union should be as easy as getting a drill from Amazon, asserts one expert who reminds that major retailers have forever changed member expectations for service and ease of interaction with a financial institution.
NEW YORK–The AICPA’s Financial Reporting Executive Committee has issued working drafts of accounting issues related to the implementation of Accounting Standards Update (ASU) No. 2016-13, Financial Instruments-Credit Losses and is requesting feedback on issue paper Reasonable and Supportable Forecasting.
ATLANTA—Another report reveals consumers are pulling back from vehicle purchases.
SEATTLE–The software engineer who has been accused of breaching Capital One to steal information on more than 100-million people also stole data from at least 30 other companies, according to prosecutors.