ARLINGTON, Va.–Another credit union gathering has been cancelled as a result of risks related COVID 19. NAFCU said it is cancelling its Spring Regulatory School, which had been set for next week in Arlington, Va.
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WASHINGTON—The Financial Accounting Standards Board (FASB) met this week to discuss whether it would be appropriate to recognize an insurance recovery asset in conjunction with an insured expected credit loss under the amendments included in its current expected credit loss (CECL) standard. During the meeting, FASB staff indicated they were not currently working on any major substantive issues related to CECL.
CUNA Asks NCUA, CFPB To Implement Policies To Help CUs Better Serve Members During COVID-19 Outbreak
WASHINGTON—CUNA has sent letters to NCUA and the CFPB) asking the agencies to implement policies that would allow credit unions to “better serve members.”
COQUILLE, Ore.—The $1.2-billion First Community CU here intends to purchase three branches from $28.8-billion Umpqua Bank.
ARLINGTON, Va.—On a seasonally-adjusted basis, overall consumer prices increased 0.1% in February, matching January's growth. The Bureau of Labor Statistics reported the overall consumer price index (CPI) grew 2.3% over the 12-month period.
ARLINGTON, Va.—NAFCU, in a letter to the Federal Communications Commission (FCC), reiterated its support for a reassigned numbers database to aid in the elimination of illegal robocalls, but cautioned against certain recommendations that could increase credit unions' costs.
HERNDON, Va.—Nacha issued an Operations Bulletin this week reminding financial institutions of the importance of reviewing their business continuity plans to ensure that they are prepared to maintain ACH payment processing capabilities in the event of possible disruptions.
NEW YORK–Many credit unions have announced plans to have employees work from home where possible as they seek to reduce the risk from the coronavirus COVID19.
LONDON—Central banks will ask world leaders to back a “roadmap” for cutting the cost of cross-border payments, the Bank for International Settlements (BIS) said.
SUMTER, S.C. – Saying it is seeking to help South Carolina families priced out of today’s housing market, SAFE Federal Credit Union has introduced a “First Time Home Buyer Plus Program that allows qualifying members to purchase a home with no down payment.”