Despite proposed relief measures submitted by banking and credit union advocates, the Federal Accounting Standards Board (FASB) recently voted not to make recommended alterations to its current expected credit loss (CECL) standard.
Dodd Frank Update spoke with James Kendrick, vice president of accounting and capital policy at the Independent Community Bankers of America, about what FASB’s decision means for the financial industry, specifically with regard to lending activity.
Find out what insight Kendrick had to offer on the matter.