ShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr NCUA Chairman Rodney Hood continue reading » NCUA Chairman Rodney Hood Thursday called on the Financial Accounting Standards Board (FASB) to exempt credit unions from the current expected credit loss (CECL) standard. Since 2016, when the standard was issued, NAFCU has continuously urged FASB to exempt credit unions from the standard due to their unique capital framework and the negative impact the standard could have on the industry.“We applaud NCUA Chairman Rodney Hood for urging the Financial Accounting Standards Board to exempt credit unions from complying with FASB’s CECL standard,” said NAFCU President and CEO Dan Berger. “NAFCU has pushed hard for credit unions to be exempt from this onerous and costly accounting standard as it could place significant strains on credit unions’ capital levels, particularly amid the coronavirus pandemic.”NAFCU has worked closely with the NCUA to reduce CECL’s burden on the industry, most recently asking the agency to press FASB for more relief for credit unions in a discussion with NCUA Board Member J. Mark McWatters last week. NAFCU also reiterated its CECL concerns to Hood during a February meeting; NAFCU has consistently shared these concerns with Hood since he took office last year.
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Joseph Donald Hofstetter 87, of Moores Hill, Indiana, passed away Tuesday March 17, 2020.He was born September 27, 1932 in Cincinnati, OH, son of the late Joseph P. Hofstetter and Catherine (Kendoll) Hofstetter.He served his country as a member of the United States Army during the Korean War.Joseph worked as a Insulator for Union Local 8.He was a member of Church of Jesus Christ of Latter-day Saints.Joseph enjoyed spending time bird watching. In earlier years, he liked to travel with his wife of 63 years. Throughout his lifetime, Joseph loved spending time with his family.Joseph is survived by; daughters Karen Becker of Crittenden, KY, Diane Phillips of Burlington, KY, Rhea Hofstetter of Bridgetown, OH; Daughter-in-law, Petra Hofstetter of Middletown, OH; brother, Frederick (Joan) Hofstetter of Moores Hill, IN; sister-in-law, Darlene (late David) Hofstetter of Greendale, IN; 8 grandchildren, and 14 great-grandchildren and 1 great, great-granddaughter.He was preceded in death by parents; Joseph, and Catherine Hofstetter, wife, Betty J Hofstetter, Son, Joseph Daniel Hofstetter, and several siblings.Graveside services will be held at the convenience of the family.Contributions may be made to the Prestige Hospice. To make a contribution, contact the funeral home office at (812) 926-1450 and we will notify the family of your donation with a card.Visit: www.rullmans.com