<p>WASHINGTON-In a letter to the Financial Accounting Foundation (FAF), CUNA requested that more time be granted to comment on the restructuring of the Financial Accounting Standards Board (FASB). The group has asked that public comments be turned in by April 17, 2002, just 30 days after publication in the Federal Register. The FAF is considering: A reduction in the size of the FASB from seven to five members through attrition and the composition of the board; A simple majority-voting requirement of 3-2 for the five-member board (The current board has a 5-2 supermajority requirement.); and A recommendation to the FASB for shorter comment periods on proposed standards. According to the letter, CUNA wants more time to obtain input from their members. The trade association is asking for another 30 days.</p>

Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.

Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical CUTimes.com information including comprehensive product and service provider listings via the Marketplace Directory, CU Careers, resources from industry leaders, webcasts, and breaking news, analysis and more with our informative Newsletters.
  • Exclusive discounts on ALM and CU Times events.
  • Access to other award-winning ALM websites including Law.com and GlobeSt.com.

Already have an account?


© 2023 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.


Credit Union Times

Join Credit Union Times

Don’t miss crucial strategic and tactical information necessary to run your institution and better serve your members. Join Credit Union Times now!

  • Free unlimited access to Credit Union Times' trusted and independent team of experts for extensive industry news, conference coverage, people features, statistical analysis, and regulation and technology updates.
  • Exclusive discounts on ALM and Credit Union Times events.
  • Access to other award-winning ALM websites including TreasuryandRisk.com and Law.com.

Already have an account? Sign In Now
Join Credit Union Times

Copyright © 2023 ALM Global, LLC. All Rights Reserved.