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Rodney Hood, chairman of the National Credit Union Administration, told the Financial Accounting Standards Board that complying with the Current Expected Credit Losses standard could adversely impact the industry's net worth.
April 30 -
Banks would have drowned if lawmakers hadn't delayed the new accounting standard during the coronavirus pandemic.
April 24Secura/Isaac Group -
Banks had an opportunity to delay compliance with the new accounting standard, but many opted to move forward to get ahead of credit issues that could arise from the coronavirus outbreak.
April 22 -
The Los Angeles regional bank recorded the $1.5 billion noncash charge after its stock price ended March below its tangible book value.
April 21 -
Lawmakers delayed the new accounting standard as part of the stimulus package, but they shouldn't let bankers persuade them to eliminate it outright.
April 16George Mason University -
Measures that delay the Current Expected Credit Losses standard and reduce a community bank capital ratio are temporary, but the industry now sees an opening to argue that they should be permanent.
April 7 -
The regulator must speed up its capital reform efforts while taking immediate steps to reduce the examination burden.
April 7National Association of Federally-Insured Credit Unions -
Parties talking about a temporary lift of Wells' asset cap; GDP would have to drop an “unlikely” 35% in Q2 before JPMorgan would be forced to stop payouts.
April 7 -
Congress and financial regulators have implemented a number of measures to help the industry survive the financial impact of the pandemic, and a fourth phase of stimulus could be coming.
April 6 -
Emergency loan program plagued by chaos on eve of launch; why Moven, one of the first challenger banks, is calling it quits; Fed faces conundrum on whether to remove Wells Fargo's asset cap; and more from this week's most-read stories.
April 3