Browsing: FASB

Newsbytes

With 75% of bank investors now opposed to the current expected credit loss standard, ABA SVP Mike Gullette highlighted the potential consequences the Financial Accounting Standards Board’s current expected credit loss standard is likely to have for lenders and the U.S. economy.

Newsbytes

In an op-ed published today in The Washington Times, industry veterans William Isaac, former chairman of the FDIC and Thomas Vartanian, former general counsel of the Federal Home Loan Bank Board, warned of the dire consequences that could result from a hasty implementation of the current expected credit loss accounting standard.

Newsbytes

A bipartisan group of House lawmakers—led by Reps. Ted Budd (R-N.C.) and Vicente Gonzalez (D-Texas)—have introduced H.R. 3182, a bill calling for a halt to the implementation of the current expected credit loss standard until a quantitative impact study can be completed.

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Sen. Thom Tillis (R-N.C.) yesterday introduced a long-awaited bill—S. 1564—calling for a delay in the implementation of the Financial Accounting Standards Board’s current expected credit loss standard until a quantitative impact study can be completed to understand its likely effects it will have on the economy.

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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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