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NEW: CUNA Urges FASB To Drop Credit Impairment Plan

WASHINGTON (5/29/13, UPDATED 3:29 p.m. ET)--A Financial Accounting Standards Board proposal that would change the methodology for recognizing credit impairment would be detrimental to the credit union system and could have serious, unintended consequences for borrowers and the economy, CUNA warned Wednesday and urged the accounting board to abandon the plan.

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