CECL

Regulators are allowing banks that implemented the loan-loss standard to forestall any capital hits until 2022.

NAFCU and CUNA wrote to the regulator asking for a variety of measures to help credit unions weather the pandemic, including not implementing the CECL standard until at least 2024.

Details of the $2 trillion deal were still fluid Wednesday, but lawmakers were closing in on a plan that would aim to put lenders and consumers alike on stronger financial footing as they weather the coronavirus pandemic.

Policymakers should abolish the new accounting standard because it could distract banks at exactly the moment they need to be focused on pulling their communities from the brink of recession.

The $2 trillion deal passed by the Senate late Wednesday would aim to put banks and consumers alike on stronger financial footing as they weather the coronavirus pandemic.

If the new accounting standard poses too many risks during an economic crisis, then it's probably not a good idea at all.

Congressional proposals could expand Federal Reserve liquidity support, delay a new credit loss accounting standard, provide certain accounts with unlimited deposit insurance and more to help businesses and consumers reeling from the coronavirus outbreak.

The FDIC's call for FASB to postpone the loan-loss accounting standard's effective date could put pressure on other agencies to follow suit.

Some banks have closed branches or restricted access and bank tech resources are being overwhelmed; bank pays a record SKr4 billion ($400 million) for issues.

FDIC Chairman Jelena McWilliams, citing concerns about the coronavirus outbreak, is the first regulatory chief to call for suspending the accounting standard for expected loan losses.

The FDIC chairman, citing concerns about the coronavirus outbreak, is the first regulatory chief to call for suspending the accounting standard for expected loan losses.

The Consumer Financial Protection Bureau will have a busy week starting with Director Kathy Kraninger testifying before lawmakers on Tuesday.

Rep. Blaine Luetkemeyer, R-Mo., said Congress has "got to be pushing back" against the Current Expected Credit Losses standard, while Rep. Steve Stivers, R-Ohio, indicated that not all Republicans view the cannabis banking issue the same way.

At a credit union conference, Rep. Blaine Luetkemeyer, R-Mo., said Congress has "got to be pushing back" against the Current Expected Credit Losses standard, while Rep. Steve Stivers, R-Ohio, indicated that not all Republicans view the cannabis banking issue the same way.

The credit union regulator's portfolio sale dashed the hopes of a group of New York taxi drivers looking for relief.

Congress should further expand a tiered regulatory system to help community banks better serve local neighborhoods.

Bank will have more business lines, all reporting to the CEO; a research paper says the accounting rule could result in eased capital rules.

M&T hires Aarthi Murali away from JPMorgan Chase as its customer experience chief; when a small town loses its only bank; why more banks are ditching their legacy core vendors; and more from this week’s most-read stories.

The new accounting standard meant to prevent another financial crisis could actually trigger one.

The company, which just hired CEO Jay Sidhu's son to groom as its next chief, had been holding itself back to avoid caps on interchange fees.