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WASHINGTON–NCUA Chairman Rodney Hood said the agency’s general counsel has determined the NCUA board has the authority to phase-in the effects of FASB’s current expected credit losses accounting standard, or CECL, on credit union net worth ratios.

WASHINGTON–The man who oversees cybersecurity for the United States said he doesn’t want to be thought of as a person who frightens people, but he did just that in speaking to credit unions here, outlining cyber threats, especially from China, and calling on credit unions to sit down and hold a meeting as soon as possible.