Final reg on FOM, CECL transition proposed rule slated July 30 by NCUA Board

The board of credit unions’ federal regulatory agency will consider a final rule on chartering and field-of-membership, a proposed rule on credit unions’ transition to the accounting industry’s “current expected credit losses” (CECL) methodology, and more during its July 30 open meeting.

The meeting, set to begin at 10 a.m., will be open via live webcast only due to the online coronavirus (COVID-19) pandemic. The full meeting agenda follows:

  • Final Rule, Part 701, Appendix B, Chartering and Field of Membership;
  • Proposed Rule, Part 702, Transition to CECL Methodology;
  • Proposed Rule, Part 701.6, Fees Paid By FCUs (federal credit unions);
  • Request for Comment, Overhead Transfer Rate and Operating Fee Methodologies; and
  • Board Briefing, 2020 Mid-Session Budget.

July 30 NCUA open board meeting agenda