Tax/Accounting

ABA to FASB: Subject CECL to Strong Cost-Benefit Test, Delay Implementation

Summarizing the complexity within key aspects of the Financial Accounting Standards Board’s Current Expected Credit Loss model for loan impairment accounting, ABA today called on FASB to perform a public and transparent cost-benefit analysis before the final CECL standard is issued and to consider “realistic” implementation approaches banks will use rather than minimum specific requirements.

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