HR 7914
Eliminating CECL Accounting Standard Act
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Sign in to take action- Introduced
- Passed House
- Passed Senate
- To President
- Became Law
Bill overview
This bill aims to prevent the implementation of the CECL accounting standard, which requires financial institutions to estimate potential credit losses on loans and other financial instruments. It seeks to remove the requirement for any federal agency or regulation to enforce or comply with this standard. The bill essentially seeks to halt the application of CECL across the federal government. This would revert financial institutions to previous methods of calculating credit losses.
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Primary sponsor
Blaine Luetkemeyer
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