CECL

J. Mark McWatters, chairman of NCUA, and Rick Metsger, a board member, also said that Congress should give the agency more authority over field of membership for underserved areas.

The new accounting standard won’t make community institutions safer, though implementation is proving burdensome and could restrict access to credit, argues Rep. Blaine Luetkemeyer.

FASB this week is also expected to discuss credit loss standards while a House subcommittee will discuss student borrowers and loan servicing, and more.

Addressing lawmakers for the second straight day, the Fed chairman defended his agency’s refinements to the post-crisis regime.

Credit card issuers would have to set aside more in reserves because of higher loss histories, according to research by Keefe, Bruyette & Woods on the impact of the new loan-loss standard.

Rep. Blaine Luetkemeyer, R-Mo., told the mortgage giants' chief federal regulator that the Financial Accounting Standards Board’s new model for estimating loan losses could pose risk across the mortgage market.

Wide coverage of the mega-deal between BB&T and SunTrust; GSE reform, CFPB underwriting rule are on collision course; Swift showing more swagger in its rivalry with Ripple; and more from this week's most-read stories.

Despite recent chatter about a delay, there’s reason to believe the Current Expected Credit Losses accounting standard will go into effect next year. Regulators should do more to help smaller institutions prepare.

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.