Accounting

Readers react to Congress vetting Facebook's Libra, heavily debate whether to delay CECL, opine on attempts to roll back overdraft laws and more.

With some adjustments, the loan-loss accounting standard can be more secure and workable for banks.

As many as 20% of institutions haven't started planning for the new standard, according to one study. Many say CUs must start now in order to be ready, even if the rule is postponed.

Russ Golden, the chairman of the Financial Accounting Standards Board, says implementation of its credit loss rule should go forward, but will issue new supporting documents.

From regulatory reform to natural disasters and more, here's a look at Credit Union Journal's special report on what to expect for the second half of the year.

Banks clear both rounds of stress tests (though two of them needed a do-over); BNY Mellon goes all-in on digital; bank industry struggles to stop slide in latest reputation survey; and more from this week's most-read stories.

The new accounting standard for loan losses combined with an expected rule change around incentive-based compensation could hit bank chiefs in the wallet, according to a new report.

The accounting rules group is weighing whether to consolidate and push back deadlines for smaller firms to comply with credit-loss accounting change in light of concerns they will not be ready.

Executives and directors from across the industry discussed their concerns for the industry and priorities for the next year during this year's NAFCU and CUNA annual conferences.

Readers weigh in on big tech companies walking away from OCC's fintech charter, House committee wanting Facebook to halt Libra, calls to stop Congress from delaying CECL, and more.

Lawmakers recently introduced legislation to delay implementation of a new accounting standard for current expected loan losses. But policymakers should seek to preserve the accounting body’s independence.

The head of the Federal Deposit Insurance Corp. previously had said regulators were weighing numerous options for addressing criticism of their 2018 proposal.

The bipartisan House effort to delay the Current Expected Credit Loss standard comes less than a month after Republican senators introduced a similar bill.

Jury's out on whether BB&T-SunTrust will serve the community or Wall Street; 'we were willing to shock historical norms,' says Otting on OCC's makeover; is it too late for Congress to stop CECL?; and more from this week's most-read stories.

Readers weigh in on the role of the Financial Accounting Standards Board, consider personnel changes at the Consumer Financial Protection Bureau, debate the viability of public banks and more.

The effort to delay CECL comes a week after a House panel mounted a bipartisan attack on the new FASB standard.

Both Democrats and Republicans devoted considerable time at a House Financial Services Committee hearing last week to lamenting how the accounting standard will hurt small lenders.

National Credit Union Administration Chairman Rodney Hood’s testimony Thursday was reportedly the first time in three years the agency has appeared before the House Financial Services Committee.

Democrats and Republicans on the House Financial Services Committee called for steps to minimize the harm to community banks and credit unions bracing for the new accounting standard.

The American Institute of Certified Public Accountants says banks are fighting accounting fatigue — thank CECL for that — and wants the FASB to push back a deadline for privately held firms to put operating leases on their balance sheets.