H.R. 7394 · 115th Congress
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.
- Stage
- In committee
- Sponsor
- Blaine Luetkemeyer
- Introduced
- 2018-12-21
- Latest action
- 2018-12-21 · Introduced in House
Summary
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.