The Office of the Comptroller of the Currency today released its annual update to the Bank Accounting Advisory Series, a document containing staff responses to frequently asked questions from the banking industry and bank examiners on a variety of accounting issues. The document assumes all banks are using the CECL. Topics covered include loan modifications, credit losses and the elimination of accounting for troubled-debt restructurings by creditors that have adopted updated FASB standards.
ABA, associations reaffirm support for federal preemption of Illinois interchange law
ABA joined other national associations and state bankers associations in submitting a trio of letters expressing their support for recent actions by the OCC to reaffirm federal preemption of state attempts to regulate interchange fees, as in Illinois.









