The industry called for modifications to the regulator's phase-in proposal on the new credit loss standard while acknowledging the broader changes it wants are up to the Financial Accounting Standards Board. ... Read full article
At a time when the industry is focused on serving members and assisting with the economic recovery, executives shouldn't be burdened by a costly new credit loss methodology. ... Read full article
Measures designed to give banks and credit unions more flexibility to help customers weather the coronavirus pandemic are set to expire Dec. 31 unless Congress renews them. ... Read full article
Two bills — one providing relief from a loan accounting standard and another extending forebearance measures — would collectively contain credit losses. ... Read full article
Russell Golden, who just stepped down from the Financial Accounting Standards Board, says he wants to be remembered for encouraging open discourse over new rules and efforts to simplify financial accounting. ... Read full article
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. ... Read full article
Banks would have drowned if lawmakers hadn't delayed the new accounting standard during the coronavirus pandemic. ... Read full article
Measures that delay the Current Expected Credit Losses standard and reduce a community bank capital ratio are temporary, but the industry now sees an opening to argue that they should be permanent. ... Read full article
Lawmakers and regulators opted to delay compliance for banks that have implemented the credit loss standard, sparing them near-term capital hits. ... Read full article
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. ... Read full article
Regulators' decision to delay reporting for troubled-debt restructurings should allow banks and credit unions to be more nimble modifying loans impaired by the coronavirus outbreak. ... Read full article
The FDIC's call for FASB to postpone the loan-loss accounting standard's effective date could put pressure on other agencies to follow suit. ... Read full article
The new accounting standard meant to prevent another financial crisis could actually trigger one. ... Read full article
The four prudential agencies, which will enforce the new credit loss methodology developed by the Financial Accounting Standards Board, said they want to promote consistency. ... Read full article
The accounting board delayed implementation for the majority of banks and credit unions until 2023. ... Read full article
Readers react to plans by Democratic presidential candidates to reform college tuition, credit unions buying more banks, whether the next president could fire the CFPB head and more. ... Read full article
The association filed a comment letter urging FASB to delay CECL implementation for all banks, while asking a key accounting group to support its effort. ... Read full article
Hal Schroeder of FASB claims that investors have no confidence in the current loss standard. Several investors at a prominent accounting conference disagree. ... Read full article
Readers react to states investigating payroll advance companies and the GOP's weak response to cannabis banking, heed a warning that nonbanks are prepared for CECL and more. ... Read full article
The accounting standard is coming regardless of a delay. It will bring some nonbank lenders to the forefront of banking competition. ... Read full article
