H.R. 7394 · 115th Congress
To prohibit the Federal financial regulators from requiring compliance with the accounting standards update…
Full title
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.
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Never voted on. It didn't reach a floor vote before the 115th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
R
LuetkemeyerSponsor1 cosponsor · 1 R
1 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
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.
What it does: CRS summary · Introduced in House · Dec 21, 2018
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.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: 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.
Latest action (Dec 21, 2018): Referred to the Committee on Financial Services, and in addition to the Committee on Agriculture, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Policy area: Finance and Financial Sector · Origin: House · Introduced: Dec 21, 2018
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.