House Bill 7914
116th Congress(2019-2020)
Eliminating CECL Accounting Standard Act
Introduced
Introduced in House on Jul 31, 2020
Origin Chamber
House
Type
Bill
Bill
The primary form of legislative measure used to propose law. Depending on the chamber of origin, bills begin with a designation of either H.R. or S. Joint resolution is another form of legislative measure used to propose law.
Bill Number
7914
Congress
116
Policy Area
Finance and Financial Sector
Finance and Financial Sector
Primary focus of measure is U.S. banking and financial institutions regulation; consumer credit; bankruptcy and debt collection; financial services and investments; insurance; securities; real estate transactions; currency. Measures concerning financial crimes may fall under Crime and Law Enforcement. Measures concerning business and corporate finance may fall under Commerce policy area. Measures concerning international banking may fall under Foreign Trade and International Finance policy area.
No House votes have been held for this bill.
Summary
Eliminating CECL Accounting Standard Act
This bill provides that no one shall be required to comply with a specified accounting standard applicable to credit losses (i.e., the current expected credit losses standard, also known as the CECL standard).
July 31, 2020
07/31/2020
Referred to the House Committee on Financial Services.
07/31/2020
Introduced in House
Public Record
Record Updated
Jan 11, 2023 1:45:45 PM