California and Nevada's voice in Washington D.C. The Leagues are the only Leagues with a full time staff dedicated to working with Congress, Government Agencies, and Federal Regulators. The resources in this area will help you keep informed of the latest developments and credit union priorities.
State Government Advocacy efforts brings the voice of credit unions to Sacramento and Carson City. Our advocacy team works daily with elected officials, staff, the executive offices, gubernatorial appointees, and the decision-makers of California and Nevada. This area will keep you updated on all advocacy efforts at the state level of Government.
According to the minutes, the board will move forward with future forecasting of losses based on current conditions and "reasonable and supportable forecasts." The board acknowledged that a final ASU should include implementation guidance. The board will continue deliberations, based on feedback from comment letters, before issuing a final ASU; however, no expected release date is available. The California and Nevada Credit Union Leagues will continue to monitor the status of the proposal.
The FASB and International Accounting Standards Board (IASB) began re-deliberations on both of their recent exposure drafts. While both boards participated in discussions, each board only made decisions on their respective papers.
Six Issues Clarified
FASB has decided to clarify the following six issues:
Additionally, FASB decided that final guidance on expected credit losses should include implementation guidance describing the factors that an entity should consider to adjust historical loss experience for current conditions and reasonable and supportable forecasts.
Political Action Committees are organized for the purpose of raising and spending money to elect and defeat candidates, representing business, labor or ideological interests.