The Financial Accounting Standards Board (FASB) just took another important step in the runup to CECL implementation, scheduled for January 2020 for SEC registrants and later for others.
FASB just held its long-awaited public meeting on CECL. Contrary to the expectations of many, it was not a heated procession of opponents arguing against CECL from all sides. Rather, it was a...
The banking industry and its allies in Congress have been outspoken in their fierce opposition to CECL since the broad outlines became clear, well ahead of FASB’s formal promulgation – its...
New bulletin clarifies role of fintechs and emphasizes need to evaluate financial condition throughout the lifecycle
In the four years since the Office of the Comptroller of the Currency (OCC)...
This past June the Federal Accounting Standards Board (FASB) released the Accounting Standards Update 2016-13 which is a major reform of how financial institutions calculate loss allowances for...