Proposed and potential rules from the NCUA, CFPB and others are front and center in credit union strategic planning.
Get ready to make big changes in how you calculate loan loss allowances.
The Financial Accounting Standards Board is getting an earful from credit unions and trade associations. Even NCUA Chairman Debbie Matz, like others, is concerned about the accounting board’s exposure draft that would require financial institutions to base loan-loss allocations on expected losses, rather than incurred losses. In addition to requiring...
NCUA chair urges standards-setting panel to consider unintended consequences of new ALLL rule.
The $3.9 billion Patelco Credit Union experienced its most profitable year in the Pleasanton, Calif.-based institution’s 76-year history, with a $55.5 million net profit and 1.48% return on assets. In fact, last year’s earnings were more than the total of $37 million earned from 2005 to 2011 combined.
The Financial Accounting Standards Board recently released a proposed accounting standards update for financial instruments concerning new financial statement disclosures of liquidity risk and interest rate risk. The proposal is one portion of a joint project between FASB and the International Accounting Standards Board on the subject of accounting for...
At any credit union, the role of the chief financial officer is a tough one. He or she must create a roadmap to financial success by setting the right pricing strategy, effectively managing credit risk and streamlining operational costs. But in California, where high unemployment, an unsteady housing market and...
New strategies for growth amidst high unemployment, lending losses in the Golden State. Find out more in this preview from next week's print edition.
In case you’ve missed it, significant efforts are currently underway to align U.S. accounting practices with standards that are followed in other parts of the world (the convergence process). To accomplish this monumental task, the U.S.-based Financial Accounting Standards Board is working closely with the International Accounting Standards Board.
I am writing in response to both your article on TDR reporting (Nov. 2, page 1) and Michael Poulos’ response (Nov. 23, page 15). I wanted to offer some opinions on how to improve on a few of the issues imposed by TDR reporting and tracking.