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To prohibit the Federal financial regulators from requiring compliance with the accounting standards update of the Financial Accounting Standards Board related to current expected credit loss ("CECL"), to require the Securities and Exchange Commission to take certain impacts of a proposed accounting principle into consideration before accepting the principle, and for other purposes.

USA115th CongressHR-7394| House 
| Updated: 12/21/2018
Blaine Luetkemeyer

Blaine Luetkemeyer

Republican Representative

Missouri

Cosponsors (1)
Ted Budd (Republican)

Agriculture Committee, Financial Services Committee

  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted
This bill prohibits financial regulators from requiring compliance with the current expected credit loss rule issued by the Financial Accounting Standards Board in June 2016.
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Timeline
Dec 21, 2018
Introduced in House
Dec 21, 2018
Referred to the Committee on Financial Services, and in addition to the Committee on Agriculture, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
  • December 21, 2018
    Introduced in House
  • December 21, 2018
    Referred to the Committee on Financial Services, and in addition to the Committee on Agriculture, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.

Finance and Financial Sector

Accounting and auditingAdministrative law and regulatory proceduresBanking and financial institutions regulationCredit and credit marketsMinority and disadvantaged businessesSecurities and Exchange Commission (SEC)Small business

To prohibit the Federal financial regulators from requiring compliance with the accounting standards update of the Financial Accounting Standards Board related to current expected credit loss ("CECL"), to require the Securities and Exchange Commission to take certain impacts of a proposed accounting principle into consideration before accepting the principle, and for other purposes.

USA115th CongressHR-7394| House 
| Updated: 12/21/2018
This bill prohibits financial regulators from requiring compliance with the current expected credit loss rule issued by the Financial Accounting Standards Board in June 2016.
View Full Text

Suggested Questions

Get AI-generated questions to help you understand this bill better

Timeline
Dec 21, 2018
Introduced in House
Dec 21, 2018
Referred to the Committee on Financial Services, and in addition to the Committee on Agriculture, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
  • December 21, 2018
    Introduced in House
  • December 21, 2018
    Referred to the Committee on Financial Services, and in addition to the Committee on Agriculture, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Blaine Luetkemeyer

Blaine Luetkemeyer

Republican Representative

Missouri

Cosponsors (1)
Ted Budd (Republican)

Agriculture Committee, Financial Services Committee

Finance and Financial Sector

  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted
Accounting and auditingAdministrative law and regulatory proceduresBanking and financial institutions regulationCredit and credit marketsMinority and disadvantaged businessesSecurities and Exchange Commission (SEC)Small business