The OCC yesterday released an updated version of its Bank Accounting Advisory Series that provides accounting guidance for accountants at financial institutions. The update, among other things, includes recent answers to frequently asked questions from banks and examiners about troubled debt restructurings, other real estate owned and pushdown accounting.
ABA offers fixes for small-business lending data collection rule
In a letter, ABA said it is pleased with the CFPB's proposal to revise its small-business lending data rule and offered several recommendations to reduce the compliance burden for banks.