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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 complex economic modeling, the standard would also require the allowance for loan and lease losses to cover the entire life of the loan at the time of funding.

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