Accounting

Although no laws have yet passed, most of the bills introduced thus far do not consider EWA products to be loans. California is an exception.

Banks have been reclassifying their losses to avoid taking steep write-downs that could be helping them stay in business.

Credit unions' provision for loan and lease losses rose by 337% in 2022. Industry observers cite forecasted economic weakness and current expected credit loss implementation as the primary reasons.

The dataset, developed by Federal Reserve researchers, will give historians and students a far easier way to examine banks' performance between 1867 and 1904. The period was one of significant instability, which ultimately prompted the creation of the Fed.

Rising demand for compliance staffers to help banks meet stress test requirements has increased the chances of lower profitability, according to new research from the National Bureau of Economic Research.

Mazars Group, the accounting firm used by the crypto giant Binance Holdings and other big players in the industry to vouch for their assets held in reserve, has halted all work for crypto clients, dealing a blow to an industry seeking to shore up confidence in the wake of FTX's collapse.

The challenger bank for small-business owners is making it easier for its customers to give their accountants access to their transactions and statements.

Baselane, which helps property owners manage bookkeeping and collect rent, has created a banking unit that offers checking accounts and lets landlords establish subaccounts for such needs as saving for remodels or setting aside security deposits.

The misclassification of certain cash flows in 2021 was a “material weakness,” according to a securities filing. Management restated the relevant financial statements and promised to lay out a “plan to remediate” the issue.

Growing financial pressures have pushed more adults into living paycheck-to-paycheck and wanting to access their earned pay earlier, calling into question the value of decades-old payroll practices.