In the wake of bipartisan criticism from Congress over sweeping new accounting rules for the banking industry, the Financial Accounting Standards Board (FASB) is hosting a roundtable discussion today on its controversial current expected credit loss (CECL) rules. Many financial institutions – and several members of Congress – have called on FASB to delay implementing … Continue Reading
The Democrats’ takeover of the House will hand a key committee gavel – and the power to issue subpoenas – to one of President Donald Trump’s fiercest critics. It also will trigger aggressive oversight of the Trump administration, especially its drive to defang the Consumer Financial Protection Bureau (CFPB) and to roll back Dodd-Frank financial … Continue Reading
