Accounting

Former FASB chair defends his legacy as more than CECL

07/07/20

Russell Golden, who just stepped down from the Financial Accounting Standards Board, says he wants to be remembered for encouraging open discourse over new rules and efforts to simplify financial accounting.

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Don’t use coronavirus as an excuse to derail CECL

04/16/20

Lawmakers delayed the new accounting standard as part of the stimulus package, but they shouldn't let bankers persuade them to eliminate it outright.

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CECL impact delayed two years

03/27/20

Regulators are allowing banks that implemented the loan-loss standard to forestall any capital hits until 2022.

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CECL is a real threat to the financial system

01/31/20

The new accounting standard meant to prevent another financial crisis could actually trigger one.

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FASB extends CECL deadline for most lenders

07/17/19

The decision gives the vast majority of banks and credit unions another year to implement the controversial accounting method for loan losses.

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'What a bunch of Luddites!': Comments of the week

07/04/19

Readers react to Congress vetting Facebook's Libra, heavily debate whether to delay CECL, opine attempts to roll back overdraft laws and more.

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Agencies are close to finishing Volcker Rule changes: FDIC's McWilliams

06/12/19

The head of the Federal Deposit Insurance Corp. previously had said regulators were weighing numerous options for addressing criticism of their 2018 proposal.

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House lawmaker warns of CECL's impact on Fannie, Freddie

02/14/19

Rep. Blaine Luetkemeyer, R-Mo., told the mortgage giants' chief federal regulator that the Financial Accounting Standards Board’s new model for estimating loan losses could pose risk across the mortgage market.

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Accounting gaffe surfaces at First Bancorp in Puerto Rico

03/20/18

The San Juan company disclosed an error in the way it calculated the provision for losses in its commercial loan book.

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Weakness in internal controls surfaces at Valley National

03/02/18

The New Jersey bank did not say exactly what the problem was, but it is beefing up how allegations of financial-reporting violations are reported to upper management.

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