As Congress and the Trump administration continue negotiations over tax reform, they should address the tax-exempt status of the credit union industry, a prominent economist wrote in U.S. News and World Report today.

As banks continue preparing to implement the Current Expected Credit Loss model for loan loss accounting, the financial agencies have issued 14 new answers to frequently asked questions.

The number of banks using derivatives to manage interest rate risk could increase significantly as a result of a new hedge accounting standard issued by the Financial Accounting Standards Board today.

The American Institute of CPAs has extended the deadline for comments on proposed changes to auditing standards relating to employee benefit plans.

The Federal Reserve, FDIC and OCC today issued a proposed rule that would pause the transition to the Basel III capital framework for banks not using the Basel advanced approaches.

Dev Strischek, a long-time banking industry veteran, has been appointed to the Private Company Council of the Financial Accounting Standards Board.

Dispatches from the CECL implementation journey.

With changes to bank accounting on the horizon, including the Financial Accounting Standards Board’s Current Expected Credit Loss accounting standard and upcoming requirements to disclose bank loans at their so-called “exit price,” ABA noted that many auditing firms will need to employ experts and pricing specialists and that banks will need to greatly expand the documentation supporting their estimates.

The six lead negotiators on tax reform today issued a joint statement on how they plan to move forward with changing the U.S. tax code.