Continued Encouragement for Consumer Lending Act
This bill directs the Securities and Exchange Commission and federal financial regulators to report on the implementation of the Current Expected Credit Losses (CECL) accounting standard and its impact on credit availability, capital requirements, and financial institutions. Required compliance with the CECL standard is delayed until one year after submission of this report.
Action Date | Type | Text | Source |
---|---|---|---|
2019-05-21 | IntroReferral | Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. | Senate |
2019-05-21 | IntroReferral | Introduced in Senate | Library of Congress |