ABA Calls for CECL Delay, Quantitative Impact Study in Letter to Rep. Meeks
In a letter to Rep. Gregory Meeks (D-N.Y.) today, the American Bankers Association reiterated its call for a delay in...
Tax and Accounting
Otting, McWilliams: Agencies Moving Toward More Risk-Based AML Approach
The federal banking agencies plan to reintroduce the examination manual for anti-money laundering/Bank Secrecy Act compliance later this year, Comptroller...
Citing Economic Risk, Senators Call for CECL Delay, Study
Led by Sens. Thom Tillis (R-N.C.) and Doug Jones (D-Ala.), a bipartisan group of 15 senators wrote to the Federal...
SEC Proposes SOX Relief for Small Firms
The Securities and Exchange Commission today proposed to provide relief for smaller reporting companies from a part of the Sarbanes-Oxley Act that...
Lawmakers Issue Bipartisan Call for CECL Implementation Delay
A bipartisan group of lawmakers wrote to the Securities and Exchange Commission today expressing concern about the adverse effect of...
IRS Issues Second Round of Proposed Regulations on Opportunity Zones
The Internal Revenue Service today issued a highly anticipated package of proposed regulations on the Opportunity Zone tax incentive.
ABA Data Bank: Bankers Look Deep Into Past for CECL Prep
More than three-quarters of financial institutions will gather data from five or more years back as they prepare to implement...
ABA Supports Bill to Make 199A Tax Deduction Permanent for S-Corps
The American Bankers Association today joined more than 100 trade organizations in a letter of support for H.R. 216, the...
Luetkemeyer, McHenry Query SEC on CECL Effects
Senior House Financial Services Committee member Blaine Luetkemeyer (R-Mo.) and Ranking Member Patrick McHenry (R-N.C.) today wrote to Securities and...
FASB Keeps CECL Unchanged; ABA Continues to Urge Impact Study
The Financial Accounting Standards Board today declined to make changes to its current expected credit loss model, as proposed by...
