ALEXANDRIA, Va.—NAFCU staff met with NCUA's Office of Examination and Insurance here to discuss various concerns related to the Financial Accounting Standards Board's (FASB) current expected credit loss (CECL) standard. Among those participating were NAFCU EVP/General Counsel Carrie Hunt, VP-Research/Chief Economist Curt Long, Director of Regulatory Affairs Ann Kossachev, and Senior Counsel for Research and Policy Andrew Morris.
Fresh Today
WASHINGTON—Total consumer credit has slowed a bit, growing by 3.1% in March (seasonally adjusted, annualized), While the CU number is up 4.9% versus a year ago, other lenders saw decreases during March.
MIAMI BEACH, Fla.–Succeeding in the current marketplace, one rife with sophisticated digital offerings, can be made easier by listening to the original business consultant: your mother.
RICHMOND, Va.–The first quarter of 2019 saw more publicly disclosed data comprises than any prior quarter, according to one new analysis.
RANCHO CUCAMONGA, Calif.–Ready to take a selfie—with an ATM? CO-OP has launched a new fundraiser for Children’s Miracle Network that invites credit union staff and members to post a pic of the ATM and tag it #ATMs4CMN, and it will donate $10 to CMN hospitals.
AUSTIN, Texas–The Texas House has passed a bill that seeks to strengthen notification requirements of a security breach affecting sensitive personal information. The bill would also create the Texas Privacy Protection Advisory Council to study data privacy laws in Texas, other states, and relevant foreign jurisdictions.
SCARBOROUGH, Maine–A new one-year certificate now available from Town & Country FCU here has been ranked as the highest yielding in the country on CDs of the same term.
BIRMINGHAM, Ala.–Dollar Associates will be hosting a free webinar on “The Case for the Credit Union Tax Exemption.” The webinar is scheduled for May 30 from 3-4 p.m. ET.
ARLINGTON, Va.—Jan N. Roche, president and CEO of State Department Federal Credit Union in Alexandria, Va., won reelection to an at-large seat on the NAFCU board of directors. Brian T. Schools, president and CEO of Chartway Federal Credit Union in Virginia Beach, Va., was also re-elected as eastern region director.
LAWRENCEVILLE, Ga.—There was good and bad news in the used car space in April, according to a new report.