In an April 30 letter, National Credit Union Administration (NCUA) Chairman Rodney E. Hood urged the Financial Accounting Standards Board to both exempt credit unions from CECL implementation due to it’s chilling effect on lending and described various strategies that credit unions can employ to work with borrowers who are experiencing financial hardship because of the COVID-19 pandemic.
More Stories
The Father, the Son and a $2.26 Million Synthetic Identity Scheme
When the Borrower Is the Fraudster
Auto Lending Accelerates as Borrower Credit Quality Slips
After the Repo: When Does a Credit Union Finally Admit the Loss?
Auto Lending Is Moving Down the Credit Risk Ladder – Collections and Repo May Follow
Holmes Motors to Pay $137,000 Over Alleged Violations of Servicemembers’ Vehicle Lease Rights