Browsing: Tax and Accounting

Tax and Accounting

In light of the sudden and significant economic changes wrought by the coronavirus pandemic and public health response, FDIC Chairman Jelena McWilliams today asked the Financial Accounting Standards Board to allow banks that have begun implementing Current Expected Credit Loss methodology to postpone it, as well as to impose a CECL moratorium for banks not yet required to implement it.

Newsbytes

As part of its ongoing efforts to educate policymakers and the public about large credit unions’ abuse of their tax exemption, the American Bankers Association—through its Explore Credit Unions campaign—is launching a new series of ads designed to highlight how large credit unions have lost their way.

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