S. 1564 · 116th Congress
Continued Encouragement for Consumer Lending Act
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Never voted on. It didn't reach a floor vote before the 116th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
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TillisSponsor20 cosponsors · 20 R
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Cotton
KC
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Cramer
JM
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Moran
DP
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Perdue
MR
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Rounds
JB
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Boozman
JE
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Ernst
TC
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Cruz
JK
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Kennedy
PR
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Roberts
CH
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Hyde-Smith
PT
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Toomey
JL
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Lankford
JT
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Thune
JI
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Inhofe
RB
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Blunt
BC
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Cassidy
DF
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Fischer
JC
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Cornyn
SD
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Daines5 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
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.
What it does: CRS summary · Introduced in Senate · May 21, 2019
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.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Continued Encouragement for Consumer Lending Act
Latest action (May 21, 2019): Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Policy area: Finance and Financial Sector · Origin: Senate · Introduced: May 21, 2019
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.