This week: House panel talks CECL; FCC considers NAFCU-sought reassigned numbers database

A number of issues critical to credit unions’ operations are set for discussions in Washington this week: A House Financial Services subcommittee will discuss the potential impact of the current expected credit loss (CECL) accounting standard, and the Federal Communications Commission (FCC) will consider a rulemaking to create a NAFCU-sought single, reassigned numbers database to aid in the elimination of illegal robocalls.

In addition, the NCUA Board will meet Thursday and is set to discuss regulatory relief efforts and blockchain technology (read more here), and NAFCU will hold its final member call-in of the year Wednesday to give credit unions a look-ahead to 2019 legislative and regulatory priorities (see what’s on the agenda here).


Tomorrow, the House Financial Services Subcommittee on Financial Institutions and Consumer Credits will hear from a panel of experts on how companies will be affected by the Financial Accounting Standards Board’s (FASB) CECL standard. Sharing credit unions’ implementation concerns with FASB, NAFCU has worked to obtain certain changes and more guidance on the standard.


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