Banking Law News

Banks Might Get Decision on Loan-Loss Rule Changes in April

Feb. 26, 2019, 7:11 PM

U.S. accounting rulemakers are to debate and vote April 3 on whether to proceed with a proposal championed by mid-sized banks—including BB&T Corp., Capital One Financial Corp., and Regions Financial Corp.—to change a key piece of the Financial Accounting Standards Board’s credit losses accounting standard.

FASB “staff will present us everything that they’ve heard, and they’ve heard a lot of private conversations,” board Chairman Russell Golden told Bloomberg Tax after a meeting of the FASB’s parent organization, the Financial Accounting Foundation.

“It’s hard to know until we’ve had the deliberations” where the proposal will go, Golden said.

  • The proposal...
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