The Consumer Financial Protection Bureau (CFPB) has finalized a rule required by Congress to increase transparency in small business lending, promote economic development, and combat unlawful discrimination. Lenders will collect and report...
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March 31, 2023, 07:25 AM
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As state-level regulatory pressures mount, the Equipment Leasing and Finance Association announced a new webinar designed to help industry leaders prepare for state-level regulations that are expected to impact equipment finance firms in the near...
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November 30, 2021, 07:23 AM
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The federal bank regulatory agencies approved a final rule modifying their regulatory capital rules and providing an option to phase in over a period of three years the day-one regulatory capital effects of the update to the accounting standard known...
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December 27, 2018, 07:15 AM
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Wells Fargo & Co. announced Chief Administrative Officer Hope Hardison and Chief Auditor David Julian have begun leaves of absence from Wells Fargo and will no longer be members of the company’s Operating Committee. These leaves relate to previously...
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October 25, 2018, 07:10 AM
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Meta Financial Group, Inc., the holding company for its federally chartered savings bank subsidiary, MetaBank, announced all necessary bank regulatory approvals relating to the acquisition of Crestmark Bancorp, Inc., the holding company for its...
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June 29, 2018, 07:25 AM
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LeaseAccelerator announced that it was recognized as one of 2017’s top 10 Financial Reporting Solution Providers in the latest edition of CFO Tech Outlook. The annual list of companies has been selected by the panel of experts and members of CFO Tech...
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October 13, 2017, 07:00 AM
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While banks, insurers and specialty finance companies are making progress toward the implementation of the Current Expected Credit Loss (CECL) standard, widespread uncertainty regarding key decisions on accounting, modeling and data inputs has slowed...
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October 12, 2017, 07:14 AM
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The Independent Community Bankers of America® (ICBA) expressed strong concerns with an Office of the Comptroller of the Currency proposal to grant special-purpose bank charters to unregulated financial technology companies. In a comment letter on the...
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January 23, 2017, 07:11 AM
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The Federal Deposit Insurance Corporation (FDIC) and the Federal Reserve Board on Tuesday announced that Bank of America, Bank of New York Mellon, JP Morgan Chase, and State Street adequately remediated deficiencies in their 2015 resolution plans....
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December 14, 2016, 07:18 AM
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Just 9.8 percent of more than 5,400 financial and accounting professionals say their companies are prepared to comply with the new Financial Accounting Standards Board (FASB) and International Accounting Standards Board (IASB) lease accounting...
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June 07, 2016, 07:07 AM
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CHP Consulting has published the final version of its authoritative whitepaper on changes in international lease accounting standards.The fully revised Lease Accounting Reform: The Systems Impact for Asset Finance Lessors reflects the final standards...
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March 25, 2016, 07:15 AM
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Ralph Petta, President and CEO of the Equipment Leasing and Finance Association, released the following statement regarding the new lease accounting standard issued by the Financial Accounting Standards Board (FASB):“We welcome the release of the new...
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February 26, 2016, 07:17 AM
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A delegation of community bankers from the Independent Community Bankers of America® (ICBA) met with the Financial Accounting Standards Board (FASB) on widespread concerns with FASB’s controversial proposed accounting reforms. The three community...
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February 08, 2016, 07:11 AM
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The Equipment Leasing and Finance Association has announced two new opportunities for lessors to learn about forthcoming changes to the lease accounting standard: a one-hour web seminar on Feb. 9 and a one-day workshop on March 2. Both events are...
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January 21, 2016, 07:04 AM
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The Independent Community Bankers of America (ICBA) called on Congress to pass legislation to rein in excessive government regulations that are inhibiting economic growth, including the Justice Department’s Operation Choke Point initiative....
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July 16, 2014, 06:15 AM
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James L. Kroeker, former chief accountant for the U.S. Securities and Exchange Commission (SEC), has been appointed a member and vice chairman of the Financial Accounting Standards Board (FASB). The appointment was announced by the Board of Trustees...
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July 25, 2013, 07:06 AM
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Reuters reported that the U.S. Financial Accounting Standards Board (FASB) and International Accounting Standards Board (IASB) found little common ground during a meeting held on Tuesday to help shield taxpayers from further bank bailouts despite...
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July 24, 2013, 06:58 AM
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Bloomberg reported that GE Capital and American International Group Inc. (AIG) will not fight a decision by regulators that they pose potential risks to the economy.The Bloomberg report quotes Russel Wilkerson, a spokesman for GE Capital saying, “We...
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July 03, 2013, 07:05 AM
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Reuters reported that U.S. banks have given a proposal to federal regulators on how to pay for restructuring the country's too-big-to-fail institutions in the event of a future crisis, the Wall Street Journal reported, citing people familiar with the...
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June 24, 2013, 06:56 AM
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Reuters reported regulators on Monday proposed designating GE Capital, American International Group Inc, and Prudential Financial for heightened regulatory oversight. According to the report, the Financial Stability Oversight Council said it had...
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June 04, 2013, 07:08 AM
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The U.S. Chamber of Commerce’s Center for Capital Markets Competitiveness (CCMC) released the “Fix, Add, Replace (FAR) Agenda” outlining the Center’s priorities for meaningful financial regulatory reform. The FAR Agenda tackles specific provisions of...
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April 05, 2013, 07:10 AM
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The Financial Accounting Standards Board (FASB) voted to extend the comment deadline for its proposal to improve financial reporting about expected credit losses on loans and other financial assets held by banks, financial institutions, and other...
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March 29, 2013, 07:14 AM
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According to Fitch Ratings, approval of a Financial Accounting Standards Board (FASB) proposal on the treatment of credit losses for loans and other financial assets could eventually force U.S. banks to book expected losses early, putting pressure on...
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March 14, 2013, 07:15 AM
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Bloomberg reported global central bank chiefs gave lenders four more years to meet international liquidity requirements and watered down the measures in a bid to stave off another credit crunch.According to the report, banks won the delay to fully...
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January 07, 2013, 07:50 AM
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According to a Bloomberg report, Banks’ loan-loss reserves may jump 50% under a proposed U.S. accounting-rule change that redefines how quickly firms must recognize bad debts, standard-setters said. The report outlines how the proposed rule pushes...
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December 21, 2012, 07:00 AM
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The Federal Reserve Board has proposed rules to strengthen the oversight of U.S. operations of foreign banks. The proposal would require foreign banking organizations with a significant U.S. presence to create an intermediate holding company over...
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December 17, 2012, 07:00 AM
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The Independent Community Bankers of America (ICBA) detailed in congressional testimony why policymakers should exempt the nation’s community banks from proposed Basel III regulatory capital standards. Testifying before the House Financial Services...
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November 30, 2012, 06:00 AM
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In the 2012 KPMG Community Banking Outlook Survey, 47% of respondents identified regulatory and legislative pressures as the most significant barrier to growth over the next year, while 35% said regulatory compliance costs were having the greatest...
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November 28, 2012, 07:16 AM
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The Federal Reserve's 2013 stress test scenarios for U.S. banks, which include a slowdown in Asia's developing economies on top of severe U.S. and euro zone recessions, are still as tough as last year, according to Fitch Ratings. However, we believe...
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November 19, 2012, 07:00 AM
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Reuters reported that corporate lobbying may derail attempts by regulators to make companies account more clearly for leased equipment, the head of a global accounting rules body said on Tuesday.According to the report, currently the costs of such...
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November 08, 2012, 07:04 AM
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The Independent Community Bankers of America (ICBA) called on federal financial regulators to exempt community banks from proposed Basel III regulatory capital standards. In a comment letter to the agencies, ICBA wrote that it strongly believes that...
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October 23, 2012, 06:32 AM
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Bloomberg reported that GE Capital is in the final stage of a regulatory review to determine if it needs extra scrutiny because of the risk that its potential failure would pose to the U.S. economy, two people with direct knowledge of the matter said...
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October 08, 2012, 07:52 AM
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Bloomberg reported that American International Group Inc. (AIG) said a U.S. panel told the insurer it’s under consideration to be labeled a potential risk to the financial system, the first non-bank to report such notification in a process that could...
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October 03, 2012, 07:42 AM
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CFO reports the rules on liquidity levels set by the Basel III framework for bank capital could curtail banks’ appetite for underwriting lines of credit for companies. The article makes reference to recent panel of bankers and risk managers brought...
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October 01, 2012, 07:45 AM
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Reuters reports Britain's top financial watchdog delivered a 10-point plan to fix LIBOR but stopped short of scrapping the benchmark interest rate in a much-awaited reform of a system plagued by scandal."The system is broken and needs a complete...
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September 28, 2012, 07:33 AM
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CFO.com reports the new lease accounting proposal agreed upon by the FASB and IASB is still getting pummeled by finance executives. Ralph Petta, chief operating officer at the Equipment Leasing and Finance Association (ELFA) notes that the boards’...
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September 20, 2012, 07:14 AM
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The Independent Community Bankers of America (ICBA) expressed strong concerns with proposed rules to implement Basel III capital standards in a meeting with Federal Reserve officials. In a meeting this week with Federal Reserve Governor Elizabeth...
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July 16, 2012, 07:17 AM
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Reuters reported that five of the largest U.S. banks are crafting plans for going out of business as part of the government-mandated contingency planning created by the Dodd-Frank financial reform law designed to end too-big-to-fail bailouts from the...
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June 27, 2012, 08:00 AM
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Odessa Technologies, the developer of the LeaseWave suite of products, a fully integrated end-to-end lease and loan management solution, has published the second in a series of White Papers about the Dodd-Frank Act.The Dodd-Frank Act, named after its...
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June 26, 2012, 07:30 AM
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The International Accounting Standards Board (IASB) and the Financial Accounting Standards Board (FASB) today agreed on an approach for accounting for lease expenses as part of a project to revise lease accounting in International Financial Reporting...
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June 14, 2012, 07:50 AM
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Bloomberg Businessweek reported the world’s largest banks have presented a list of changes to a proposed U.S. ban on proprietary trading, seeking to escalate the lobbying effort against the Volcker rule five months before it takes effect.According to...
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February 14, 2012, 07:30 AM
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