FASB
to meet and discuss CECL, TDR today
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
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
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."
Don't
miss out on this $250 savings!
Use code SUMMER
by July 23 to save $250 on any NAFCU Online Training Subscription. Gain access
to invaluable CU training for your staff and board.
