CHICAGO — Conference planners don't typically expect a packed house on the final day of a three-day event, but this morning's sessions on loan loss allowances and new corporate regulations drew standing-room-only crowds at the AICPA's National Conference for Credit Unions here.
Industry CPA Mike Sacher's loan loss allowance breakout session sent Renaissance Hotel staff scrambling to accommodate at least 30 who couldn't find seats. He presented specific allowance scenarios and allowed the audience to participate in deciding whether or not to take an allowance per GAAP and other accounting rules.
Current regulations and new ones expected from the NCUA was such a popular topic, the AICPA National Conference for Credit Unions booked the regulator's deputy director of examination and insurance twice.
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NCUA Deputy Director of Examination and Insurance John Kutchey returned to the stage to talk specifically about how new corporate regs will affect natural person credit unions.
He repeated information shared at Town Hall meetings with the largely vendor audience, but also unveiled some corporate news, like the possibility the NCUA might participate in the government's PPIP program, and that the regulator will probably limit the amount credit unions can deposit in their corporate.
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