News Topic: CECL

Questioning whether core-banking technology is nearing a 'big shake-up'; Capital One keeps closing branches, even as rivals open them; FASB chair defends CECL, saying 'the benefits justify the cost'; and more from this week's ... Read full article

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

With some adjustments, the loan-loss accounting standard can be more secure and workable for banks. ... Read full article

Russ Golden, the chairman of the Financial Accounting Standards Board, says implementation of its credit loss rule should go forward, but will issue new supporting documents ... Read full article

Banks clear both rounds of stress tests (though two of them needed a do-over); BNY Mellon goes all-in on digital; bank industry struggles to stop slide in latest reputation survey; and more from this week's most-read stories. ... Read full article

The new accounting standard for loan losses combined with an expected rule change around incentive-based compensation could hit bank chiefs in the wallet, according to a new report. ... Read full article

Accounting rules group is weighing whether to consolidate and push back deadlines for smaller firms to comply with credit-loss accounting change in light of concerns they will not be ready. ... Read full article

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. ... Read full article

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. ... Read full article

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

Jury's out on whether BB&T-SunTrust will serve the community or Wall Street; 'we were willing to shock historical norms,' says Otting on OCC's makeover; is it too late for Congress to stop CECL?; and more from this week's ... Read full article

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. ... Read full article

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

Both Democrats and Republicans devoted considerable time at a House Financial Services Committee hearing last week to lamenting how the accounting standard will hurt small lenders. ... Read full article

Democrats and Republicans on the House Financial Services Committee called for steps to minimize the harm to community banks and credit unions bracing for the new accounting standard. ... Read full article

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. ... Read full article

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. ... Read full article

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. ... Read full article