Also: CFPB blog post details trends in assistance on consumers' credit records; NAFCU analyzes June CPI data
NAFCU TODAY | The News You Need Daily.
July 14, 2021
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FASB to meet and discuss CECL, TDR today [ [link removed] ]
The Federal Accounting Standards Board (FASB) will hold a board meeting today to discuss troubled debt restructuring (TDR) accounting for creditors who have adopted the current expected credit loss (CECL) standard.
CFPB reveals trends in assistance on consumers' credit records [ [link removed] ]
The CFPB Tuesday issued the second blog post in a series documenting trends in consumer credit outcomes during the coronavirus pandemic. The first post included a report on early trends through June 2020, which found largely positive trends in those outcomes despite widespread economic hardship due to the pandemic.
Rate hike not expected as long as unemployment remains elevated, says NAFCU [ [link removed] ]
On a seasonally-adjusted basis, overall consumer prices rose 0.9 percent in June, with the Bureau of Labor Statistics reporting the overall consumer price index (CPI) grew 5.3 percent over the 12-month period. In a new Macro Data Flash report, NAFCU Chief Economist and Vice President of Research Curt Long noted that, even though the year-over-year measures are still distorted by base effects, the "price index has grown by 9.4 percent annualized over the last three months, the fastest pace since 2007."
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