The Securities and Exchange Commission (SEC) has announced its top examination priorities for 2019, emphasizing that its goal is to protect retail investors.
A new standard published in 2016 by the Financial Accounting Standards Board (FASB) will change the way banks report expected credit losses.
Good News for Small Banks and Credit Unions: FASB Votes to Delay Their Effective Date for New Credit Loss Standard
Many small banks, credit unions and lenders have been hoping the Financial Accounting Standard Board (FASB) would give them more time to comply with the new current expected credit losses (CECL) accounting standard, or exempt them altogether.
This year has seen a number of interest rate increases by the Federal Reserve, and we are fully in dynamic rate territory. Because of this, bank examiners will continue to take a hard look at the effectiveness of your bank’s interest rate risk management.
Changes to the Dodd-Frank Act have been discussed by politicians since passage of the Act in 2010. Those changes are now closer to happening with passage of U.S.