Accounting standards

Bankers weigh their options in mortgage and CRE lending as implementation of a new accounting standard nears.

Banks spend heavily on marketing to win deposits, push digital; Wells Fargo bends to critics in its latest response to scandals; FDIC review of brokered deposits has big implications for branches; and more from this week's most-read stories.

Bigger banks complained that a two-tier system would force them to rethink their models, while smaller banks raised concerns about adding more complexity to an already burdensome process.

With the government functioning again, Congress may finally turn its attention to credit union priorities.

At a FASB meeting Monday on proposed changes to the accounting standard, its critics will be given a platform.

Rep. Patrick McHenry, R-N.C., the ranking member of the House Financial Services Committee, wants the panel to look into how Britain's move to leave the EU – which has rankled credit unions across the pond – is impacting the U.S.

Rep. Patrick McHenry, R-N.C., the ranking member of the House Financial Services Committee, urged Chairwoman Maxine Waters, D-Calif., to prioritize certain "critical areas" in the new Congress.

Problems with the new accounting standard could be solved by modifying how reserves are calculated so that changes are more in line with industry growth.

The SEC and FASB control the process now, but Congress should give banking regulators a more central role in overseeing the creation of accounting rules.

Detractors are suddenly hopeful that the controversial accounting standard could be delayed or altered after FSOC's longer-than-expected closed session on the issue.