A bill to require the Securities and Exchange Commission and certain Federal agencies to carry out a study relating to accounting standards, and for other purposes.
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.
Referred to the Subcommittee on Commodity Exchanges, Energy, and Credit.
Referred to the Subcommittee on Health.
Introduced in Senate
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
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