Tag Archives: third-party risk

FASB Addresses ABA’s Concerns on Capitalizing New System Costs

The Financial Accounting Standards Board has issued a draft proposal allowing companies to capitalize certain implementation costs relating to new systems that operate on cloud technology, an issue that was first raised to FASB by members of the American Bankers Association’s Accounting Administrative Committee.

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ABA Recommends Changes to BSA/AML Regulations

In a comment letter to the Treasury department yesterday, ABA provided extensive feedback on several Bank Secrecy Act and anti-money laundering regulations that could be eliminated, modified or streamlined to reduce the compliance burden on banks in response to an executive order issued by President Trump earlier this year.

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