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The credit union regulator has implemented a host of measures to help the industry manage the pandemic, but there may be only so much it can do without congressional action.May 21
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Rodney Hood, chairman of the National Credit Union Administration, will testify before the Senate Banking Committee about how the regulator and the industry have responded to the coronavirus pandemic.May 11
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Rodney Hood, chairman of the National Credit Union Administration, told the Financial Accounting Standards Board that complying with the Current Expected Credit Losses standard could adversely impact the industry's net worth.April 30
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The regulator must speed up its capital reform efforts while taking immediate steps to reduce the examination burden.April 7
President and CEONational Association of Federally-Insured Credit Unions
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Congress and financial regulators have implemented a number of measures to help the industry survive the financial impact of the pandemic, and a fourth phase of stimulus could be coming.April 6
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The $2 trillion stimulus package, which the House passed earlier in the day, aims to expand Federal Reserve liquidity resources and provide financial institutions with some regulatory relief.March 27
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NAFCU and CUNA wrote to the regulator asking for a variety of measures to help credit unions weather the pandemic, including not implementing the CECL standard until at least 2024.March 26
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Details of the $2 trillion deal were still fluid Wednesday, but lawmakers were closing in on a plan that would aim to put lenders and consumers alike on stronger financial footing as they weather the coronavirus pandemic.March 25
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The FDIC's call for FASB to postpone the loan-loss accounting standard's effective date could put pressure on other agencies to follow suit.March 20
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FDIC Chairman Jelena McWilliams, citing concerns about the coronavirus outbreak, is the first regulatory chief to call for suspending the accounting standard for expected loan losses.March 19
