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.
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.
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.
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.
Hal Schroeder of FASB claims that investors have no confidence in the current loss standard. Several investors at a prominent accounting conference disagree.
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.
