States Push Back on Credit Unions Acquiring Banks
A growing number of states are blocking the ability of credit unions to buy banks amidst competitive concerns.
News & Events
TDR Accounting Not Required for CECL
In March 2022, FASB eliminated TDR accounting for financial institutions that have adopted CECL.
Wilary Winn to Speak at 2022 CUNA Conference
Eric Nokken, Anneliese Ramin, and Cole Schulte will be attending the Credit Union National Association (CUNA) Finance Council Conference in Las Vegas, NV, on May 22-25, 2022. Wilary Winn is […]
Significant Improvements to Accounting for Acquired Assets
In February 2022, FASB decided to apply PCD accounting to assets obtained in mergers and acquisitions for institutions that have adopted CECL. This avoids the double counting of credit losses for performing loans. In addition, FASB indicated that revised accounting could be applied to the purchases of seasoned loans.
Goodwill Amortization
FASB continues to deliberate on accounting for goodwill including testing it for impairment versus amortizing it over time. It appears it is leaning toward the required use of an amortization model.