FASB issues proposed CECL delay
The Financial Accounting Services Board (FASB) Thursday issued a NAFCU-sought delay to the current expected credit loss (CECL) standard by an additional year – until 2023 – for not-for-profits, including credit unions.

Caucus reminders: Nominate CU champion for Paul Revere Award, schedule Hill meetings
NAFCU's Congressional Caucus is fast approaching and today is the last day member credit unions can nominate a champion for the association's 2019 Paul Revere Award, which recognizes an individual's grassroots and political efforts. Also, those attending Caucus are encouraged to setup Capitol Hill meetings to discuss issues directly with their respective representative and senators.

Broker companies fined for targeting vets
The CFPB and Arkansas attorney general settled a lawsuit this week with an individual for violating state and federal laws related to his broker companies' predatory practices targeting veterans. Andrew Gamber, who owned and operated the three companies, must pay $200,000 in restitution and a $75,000 fine to Arkansas' Consumer Education and Enforcement Fund.

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Updates on NCUA, CFPB, FBI efforts wrap-up Reg Compliance School
Compliance professionals attending NAFCU's Regulatory Compliance School wrap-up the week-long conference today with sessions focused on what's happening at the NCUA and CFPB, and a behind-the-scenes look at the FBI's efforts to detect and deter financial crimes.

Retail sales increase in July despite tariff threats
Total retail sales increased 0.7 percent in July. NAFCU Chief Economist and Vice President of Research Curt Long noted that while consumer growth continues to "buoy" the economy, other threats could have a negative impact.