NCUA official seal. (Source: NCUA)
NCUA Chairman Rodney Hood said Tuesday he is continuing to push the Financial Accounting Standards Board to exempt credit unions from the Current Expected Credit Losses Standard (CECL), but so far, he has not succeeded.
Speaking at NAFCU's virtual Congressional Caucus, Hood said he met earlier this week with new FASB Chairman Richard Jones to continue his campaign. "He was very adamant that we work together," Hood said, adding that Jones recognized that the new standard could hit small credit unions particularly hard.
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