Monday, December 24, 2018

Bill Would Ban Implementation of CECL

Representative Blaine Luetkemeyer (R - MO) introduced legislation on December 21 that would block the implementation of the Financial Accounting Standards Board’s (FASB) Current Expected Credit Loss (CECL) standard by federal financial regulators.

The legislation would make implementation contingent on a quantitative study that analyzes the impact of CECL on the broader United States economy, market stability, and credit availability, particularly to small businesses and low- and moderate-income borrowers.

Read the press release.

Read the bill.
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