Accounting regulations

How Congress can prevent a post-pandemic financial crisis

09/04/20

Two bills — one providing relief from a loan accounting standard and another extending forebearance measures — would collectively contain credit losses.

[more]

Strip FASB of its powers

06/12/20

Lawmakers should go further than their recent criticism of the Financial Accounting Standards Board's loan-loss rule and just hand over its duties to the Securities and Exchange Commission.

[more]

Time for Congress to put an end to CECL

03/25/20

Policymakers should abolish the new accounting standard because it could distract banks at exactly the moment they need to be focused on pulling their communities from the brink of recession.

[more]

'The OCC needs to get its house in order': Comments of the week

06/20/19

Readers weigh in on big tech companies walking away from OCC's fintech charter, House committee wanting Facebook to halt Libra, calls to stop Congress from delaying CECL, and more.

[more]

Dear Congress: Leave accounting standards to FASB

06/18/19

Lawmakers recently introduced legislation to delay implementation of a new accounting standard for current expected loan losses. But policymakers should seek to preserve the accounting body’s independence.

[more]

House lawmakers introduce CECL 'stop and study' bill

06/11/19

The bipartisan House effort to delay the Current Expected Credit Loss standard comes less than a month after Republican senators introduced a similar bill.

[more]

Republican Senate bill would delay CECL until further study

05/22/19

The effort to delay CECL comes a week after a House panel mounted a bipartisan attack on the new FASB standard.

[more]

Accountants cite banker burnout in calling for delay of new standard

05/16/19

The American Institute of Certified Public Accountants says banks are fighting accounting fatigue — thank CECL for that — and wants the FASB to push back a deadline for privately held firms to put operating leases on their balance sheets.

[more]

Slamming FASB misses the point

05/16/19

Banking officials can reasonably disagree on new standards for current expected credit losses, but the accounting body developed the rules over many years and based them on extensive feedback.

[more]

CECL spells trouble for small banks, consumers

03/11/19

The new accounting standard won’t make community institutions safer, though implementation is proving burdensome and could restrict access to credit, argues Rep. Blaine Luetkemeyer.

[more]