The Financial Accounting Standards Board today issued an exposure draft of an accounting standards update that would make technical corrections to the Current Expected Credit Loss accounting standard.

As part of the Federal Housing Finance Agency’s “single security initiative” to standardize the terms for mortgage pass-through certificates issued by Fannie Mae and Freddie Mac, holders of existing related GSE securities will have an opportunity to exchange them for the new standard security.

Four ways to measure the performance of your investment management team.

The American Institute of Certified Public Accountants has issued two draft papers that address – in a generally positive way -- issues related to the implementation of the Current Expected Credit Loss standard, which will require banks to record credit losses at origination based on the life-of-loan loss expectations.

In an op-ed published on the Inside Indiana Business website yesterday, Indiana Bankers Association President and CEO Amber Van Til pushed back against several erroneous assertions often made by the credit union industry about the need for the credit union tax exemption, including the claim that credit unions are mostly small, humble institutions serving customers of limited means.

The Internal Revenue Service and the Treasury Department today issued proposed regulations implementing the 20 percent deduction that pass-through entities, including Subchapter S corporations, can take under the 2017 tax reform law.

A story in today’s Wall Street Journal examined efforts by Pentagon Federal Credit Union to grow significantly and in the process “test regulatory limits,” as the headline put it.

Implementation deadlines may seem distant but they’re looming now.

The Treasury Department on Monday submitted to the Office of Management and Budget the first group of proposed regulations related to a provision of the tax reform bill that established a 20 percent deduction for pass-through entities, including Subchapter S corporations.

Responding to a concern initially raised by the American Bankers Association in a discussion paper, the Financial Accounting Standards board agreed today to propose changing the effective date of the Current Expected Credit Loss accounting standard for “non-public business entities” to fiscal years beginning after Dec. 15, 2021.