ABA Offers Feedback to FASB on CECL-Related Technical Corrections

In a comment letter to the Financial Accounting Standards Board today, the American Bankers Association offered feedback on proposed technical corrections to clarify and amend recent accounting standard updates related to financial instruments, including the Current Expected Credit Loss standard. Among other things, ABA’s comments addressed accrued interest, vintage disclosures and contractual extensions. The association also reiterated its concern about the CECL standard more broadly.