Compliance & Regulatory Updates: Oct. 2, 2024

NCUA Updated CECL Tool: On September 23, the National Credit Union Administration released the September 2024 update of its Simplified CECL Tool which provides the latest life-of-loan or Weighted Average Remaining Maturity factors and includes refinements on the factors for unsecured credit cards loans, payday alternative loans, and leases receivable. 

​NCUA Incentive Based Compensation Rule: The Office of the Comptroller of the Currency, Federal Deposit Insurance Corporation, Federal Housing Finance Agency, and National Credit Union Administration seek comment on a proposed rule to implement section 956 of the Dodd-Frank Wall Street Reform and Consumer Protection Act.

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