As banks prepare to implement the Current Expected Credit Loss standard, ABA on Friday called on financial regulators to provide for a complete and ongoing adjustment of common equity tier 1 capital for the effects of CECL until a new capital regime can be finalized.

In a recent notice, the Internal Revenue Service released guidance clarifying that trustee and executor fees may continue to be deducted from a trust or estate’s income after the new tax reform law suspended the deduction of miscellaneous itemized deductions for by individual, trust and estate taxpayers.

When it comes to banking, Laurie Stewart has seen it all. She started her career as a teller at a regional thrift; later, she worked as a bank examiner, and more recently, she served as chief executive of a credit union, a mutual bank and a commercial bank.

Top executives at 89 percent of large U.S. companies are seeing tax savings as a result of the tax reform bill passed late last year, and they plan to continue using their savings to invest in growth-related activities, according to a survey of CEOs, COOs and CFOs conducted by PwC.

The largest credit unions with nationwide growth aspirations should be treated like banks, according to an American Banker op-ed published today, with special focus given to community reinvestment requirements and executive compensation.

The American Bankers Association today wrote to the Internal Revenue Service outlining several key issues that the IRS and the Treasury Department should include in their 2018-2019 Priority Guidance Plan.

As the Treasury Department develops guidance to implement Section 199A of the Tax Cuts and Jobs Act, it should be clear that Subchapter S banks are eligible for the section's pass-through deduction as Congress intended, a group of trade associations said yesterday.

The National Taxpayers Union and several other conservative public policy groups on Tuesday urged Senate Finance Committee Chairman Orrin Hatch (R-Utah) and the committee to revisit the tax exemption enjoyed by large credit unions.

In a comment letter to the Financial Accounting Standards Board today, ABA offered support for a proposal that would allow companies to capitalize certain implementation costs relating to new systems that operate on cloud technology.

Banks may need to reassess whether being treated as a corporation or a pass-through is more advantageous.