ICBA expressed support
for House legislation requiring regulators to study the impact of the Financial Accounting Standards Board's Current Expected Credit Loss standard and delay its implementation by one year.
Introduced by Rep. Vicente Gonzalez (D-Texas), the measure is a House companion to Senate legislation recently introduced by Sen. Thom Tillis (R-N.C.).
ICBA has worked with FASB officials since 2011 to achieve several substantive improvements to CECL and will continue advocating a more flexible CECL environment for community banks.
A new interactive timeline on ICBA's website details the years-long initiative to make CECL more workable and scalable for community banks.
View ICBA's Timeline