Accounting standards

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.

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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.

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'One less Cordray disciple in the Swamp': Comments of the week

05/23/19

Readers weigh in on the role of the Financial Accounting Standards Board, consider personnel changes at the Consumer Financial Protection Bureau, debate the viability of public banks and more.

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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.

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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.

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FASB’s accountability problem

04/26/19

The standards board has been granted vast authority without having to answer to policymakers, and its latest accounting method, CECL, will be a disaster for small banks.

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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.

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CECL is in trouble, but there’s a fix

01/11/19

Problems with the new accounting standard could be solved by modifying how reserves are calculated so that changes are more in line with industry growth.

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What the first change to lease accounting in decades means for banks

12/11/18

The Financial Accounting Standards Board is requiring all companies to record leases for property and equipment on their balance sheets. Here’s how that revision could affect banks’ loan decisions — and their own capital ratios.

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Proposed eleventh-hour change to CECL has bankers scrambling

11/09/18

The Financial Accounting Standards Board is considering a plan to have banks break out charge-offs and recoveries on a year-by-year basis. Bankers fear new systems would be needed to comply.

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