Accounting

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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Hope Bancorp puts material weakness in its rearview mirror

03/02/18

The issue had forced the Los Angeles company to scuttle its deal to acquire U&I Financial in Washington state.

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Wells Fargo hits two milestones on road to fix corporate governance

03/01/18

Wells Fargo, which has been told by the Fed that it needs to improve its governance and controls, on Thursday received an important thumbs-up from its outside auditor and also named the four senior directors who will retire next month.

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Comerica promotes Muneera Carr to CFO

11/08/17

Comerica's chief accounting officer since 2010, Carr will replace David Duprey, who is retiring early next year.

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Why this once-skeptical banker is now sold on new loan-loss rule

06/30/17

Timothy Zimmerman, who once called CECL a dangerous proposal, now sees a justification for the FASB standard. And he is urging bankers to start working on plans to comply with the change.

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