Beginning next year, banks will have to dramatically change the way they account for future credit losses, but experts disagree on the new rule's long-term impact.
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 most-read stories.
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
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.
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.
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.
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.
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.
