Lands of Opportunity
How a new tax incentive could drive commercial lending in rural communities.
Browsing: Tax/Accounting
Podcast: Where Banks Are on CECL, and Where They Need to Be
With the Current Expected Credit Loss standard for loan loss accounting coming into effect for many banks — and the vast majority of bank assets — on Jan. 1, 2020, where are bank CFOs and managers in the process of implementing CECL, and what challenges are they seeing?
Luetkemeyer Warns of CECL’s Negative Consequences for Consumers, Community Banks
Rep. Blaine Luetkemeyer (R-Mo.) today warned of the negative consequences that the Financial Accounting Standards Board’s current expected credit loss standard could have on community banks and consumers if implementation moves forward.
As CECL Looms, Prepare for Board Discussions
Loan committees and chairs should be positioned to play a role to facilitate discussions about the new loan loss accounting standard.
Arkansas Op-Eds Oppose Public Deposits in Credit Unions
With the Arkansas legislature considering a bill that would allow state and municipal entities to deposit public funds in credit unions, a pair of op-eds today in the Arkansas Business publication made the case for ending state and federal tax subsidies for credit unions that pursue bank-like activities.
Fed to Watch CECL Implementation ‘Very Carefully,’ Chairman Says
As banks prepare to implement the Financial Accounting Standards Board’s current expected credit loss standard, Federal Reserve Board Chairman Jerome Powell said that the agency will be “watching carefully” to see how the standard will affect banks and the economy.
Luetkemeyer Seeks Information on CECL’s Effect on GSEs
Rep. Blaine Luetkemeyer (R-Mo.) today wrote to Federal Housing Finance Agency Acting Director Joseph Otting today requesting information on how the Financial Accounting Standards Board’s current expected credit loss standard will affect Fannie Mae and Freddie Mac.
Industry Stakeholders Raise Broad Concerns about CECL at FASB Forum
The Financial Accounting Standards Board’s current expected credit loss standard presents significant operational challenges and stakeholders are concerned about real and potentially severe economic effects, participants noted at a roundtable discussion hosted by FASB today.
Positioning for Pro-Growth Policy
Setting ABA’s government relations agenda for 2019.
ABA Urges Regulators to Delay CECL
Noting the lack of guidance for community banks related to the CECL accounting standard, ABA today wrote to the financial regulatory agencies advising them to request a delay of the standard’s implementation until such guidance is issued.