New Accounting Rules Wanted to Help Corporate CU’s

New Accounting Rules Wanted to Help Corporate CU’s
Randall C. Smith, Managing Editor

The corporate credit union system has sent its representatives to Washington to lobby the Financial Standards Accounting Board to amend the rules on mark-to-market losses. The corporate CU’s would like this done quickly to due to the fact that they are buried under billions of dollars in mark-to-market losses.

Amending some of the mark-to-market rules would allow corporate CU’s to cast off some of their losses and clean up their balance sheets.