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A bill to amend the CARES Act to ensure that the temporary relief from CECL standards does not terminate in the middle of a company's fiscal year.
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This bill modifies the delay for required compliance with certain accounting standards applicable to credit losses (i.e., current expected credit losses standards, also known as CECL standards) as applied to insured depository institutions and bank holding companies. Specifically, required compliance with this standard is delayed through the first day of an institution's fiscal year beginning after the end of the emergency declaration regarding the COVID-19 (i.e., coronavirus disease 2019) outbreak. Currently, this delay ends the earlier of the date on which the emergency declaration terminates, or December 31, 2020.
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Filing registrants (2)
2020 · fourth_quarter · Accounting
H.R. 3182, CECL Consumer Impact and Study Bill of 2019 H.R. 6551, CARES Section 4014 Technical Corrections Act S. 1564, Continued Encouragement for Consumer Lending Act S. 4270, to amend the CARES Act to ensure that the temporary relief from CECL standards does not terminate in the middle of a company's fiscal year. Sections 4013 and 4014 of H.R. 748/ S.3548, CARES Act
Client expense: $2,940,000 · Firm income: Not reported
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Introduced in Senate
Bills with similar content found using semantic analysis.
Sources: Congress.gov
Government targets: HOUSE OF REPRESENTATIVES, SENATE, Treasury, Dept of
2020 · fourth_quarter · Banking
H.R.3885 - To amend the Bank Holding Company Act of 1956 to defer part of the compensation of senior employees of large bank holding companies (and their subsidiaries) for 10 years, to use such deferred amounts to pay any civil or criminal fines that may be levied on the bank holding company (or subsidiary), and for other purposes (Tulsi Gabbard, D-HI-2) H.R.5180 - To amend the Bank Holding Company Act of 1956 to restore the separation between banking and commerce by prohibiting bank holding company ownership of nonfinancial assets, and for other purposes (Jesus Garcia, D-IL-4) H.R.6249 - To temporarily prohibit the Federal financial regulators from requiring compliance with the CECL Rule by persons impacted by Coronavirus, and for other purpose (Blaine Luetkemeyer, R-MO-3) S.3502 - A bill to delay the implementation date of the current expected credit losses methodology for estimating allowances for credit losses, and for other purposes (Kevin Cramer, R-ND) S.4270 - A bill to amend the CARES Act to ensure that the temporary relief from CECL standards does not terminate in the middle of a company's fiscal year (Thom Tillis, R-NC) H.R.7914 - To specify that no person shall be required to comply with the CECL Rule under any Federal statute or regulation (Blaine Luetkemeyer, R-MO-3) S.4835 - A bill to prohibit bank holding companies from facilitating fossil fuel production from new sources or new or expanded fossil infrastructure that would drive such production, and for other purposes (Jeff Merkley, D-OR) S.2563 - ILLICIT CASH Act - To improve laws relating to money laundering, and for other purposes (Mark Warner, D-VA)
Client expense: $470,000 · Firm income: Not reported
Government targets: Commerce, Dept of (DOC), Federal Emergency Management Agency (FEMA), HOUSE OF REPRESENTATIVES, Housing & Urban Development, Dept of (HUD), Internal Revenue Service (IRS), Labor, Dept of (DOL), Natl Highway Traffic Safety Administration (NHTSA), SENATE, Treasury, Dept of, U.S. Trade Representative (USTR)
2020 · third_quarter · Accounting
CECL H.R. 3182, CECL Consumer Impact and Study Bill of 2019 H.R. 6551, CARES Section 4014 Technical Corrections Act S. 1564, Continued Encouragement for Consumer Lending Act S. 4270, to amend the CARES Act to ensure that the temporary relief from CECL standards does not terminate in the middle of a company's fiscal year.
Client expense: $2,930,000 · Firm income: Not reported
Government targets: HOUSE OF REPRESENTATIVES, SENATE, Treasury, Dept of
2020 · third_quarter · Banking
H.R.3885 - To amend the Bank Holding Company Act of 1956 to defer part of the compensation of senior employees of large bank holding companies (and their subsidiaries) for 10 years, to use such deferred amounts to pay any civil or criminal fines that may be levied on the bank holding company (or subsidiary), and for other purposes (Tulsi Gabbard, D-HI-2) , ALL PROVISIONS H.R.5180 - To amend the Bank Holding Company Act of 1956 to restore the separation between banking and commerce by prohibiting bank holding company ownership of nonfinancial assets, and for other purposes (Jesus Garcia, D-IL-4) , ALL PROVISIONS H.R.6249 - To temporarily prohibit the Federal financial regulators from requiring compliance with the CECL Rule by persons impacted by Coronavirus, and for other purpose (Blaine Luetkemeyer, R-MO-3) , ALL PROVISIONS S.3502 - A bill to delay the implementation date of the current expected credit losses methodology for estimating allowances for credit losses, and for other purposes (Kevin Cramer, R-ND) , ALL PROVISIONS S.4270 - A bill to amend the CARES Act to ensure that the temporary relief from CECL standards does not terminate in the middle of a company's fiscal year (Thom Tillis, R-NC) , ALL PROVISIONS H.R.7914 - To specify that no person shall be required to comply with the CECL Rule under any Federal statute or regulation (Blaine Luetkemeyer, R-MO-3) , ALL PROVISIONS
Client expense: $550,000 · Firm income: Not reported
Government targets: Commerce, Dept of (DOC), Federal Emergency Management Agency (FEMA), HOUSE OF REPRESENTATIVES, Housing & Urban Development, Dept of (HUD), Internal Revenue Service (IRS), Labor, Dept of (DOL), Natl Highway Traffic Safety Administration (NHTSA), SENATE, Treasury, Dept of, U.S. Trade Representative (USTR)