Tag Archives: CECL

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.

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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.

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Rep. McHenry Calls for Hearings on Several Priority Issues

House Financial Services Committee Ranking Member Patrick McHenry (R-N.C.) wrote to Chairman Maxine Waters (D-Calif.) today urging her to hold hearings on a number of critical financial services issues, including several American Bankers Association priorities. 

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Survey: Bank Investors Dispute Need for CECL

Three-quarters of bank investors disagree that change is necessary to loan loss accounting rules, while just 17 percent support a change, according to a recent survey of non-management bank investors conducted by FIG Partners.

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Luetkemeyer Introduces Bill to Block CECL Implementation

Citing concerns over the wide-reaching effects the Current Expected Credit Loss standard could have on the U.S. economy, Rep. Blaine Luetkemeyer (R-Mo.) today introduced legislation that would make implementation contingent on a quantitative impact study.

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ABA Offers Feedback to FASB on CECL-Related Technical Corrections

In a comment letter to the Financial Accounting Standards Board today, the American Bankers Association offered feedback on proposed technical corrections to clarify and amend recent accounting standard updates related to financial instruments, including the Current Expected Credit Loss standard.

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