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Attempts to ease regulatory burdens (Image: Shutterstock).

An attempt to ease the regulatory pain associated with using the Current Expected Credit Loss (CECL) standard won’t help credit unions, CUNA Senior Director of Advocacy and Counsel Luke Martone said Monday.

“While we support true relief associated with CECL, regardless of who it benefits, based on discussions with our member credit unions, it is our understanding that credit unions are unlikely to adopt the proposed transition relief,” Martone wrote in a letter to the Financial Accounting Standards Board.

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David Baumann


Credit Union Times

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