US HB6551 | 2019-2020 | 116th Congress
Status
Spectrum: Partisan Bill (Democrat 1-0)
Status: Introduced on April 17 2020 - 25% progression, died in committee
Action: 2020-04-17 - Referred to the House Committee on Financial Services.
Pending: House Financial Services Committee
Text: Latest bill text (Introduced) [PDF]
Status: Introduced on April 17 2020 - 25% progression, died in committee
Action: 2020-04-17 - Referred to the House Committee on Financial Services.
Pending: House Financial Services Committee
Text: Latest bill text (Introduced) [PDF]
Summary
Modifies the delay for required compliance with certain accounting standards applicable to credit losses (i.e., current expected credit losses standards, also known as CECL standards) as applied to insured depository institutions and bank holding companies. Specifically, required compliance with this standard is delayed through the first day of an institution's fiscal year beginning after the end of the emergency declaration regarding the COVID-19 (i.e., coronavirus disease 2019) outbreak. Currently, this delay ends the earlier of the date on which the emergency declaration terminates, or December 31, 2020.
Title
CARES Act Section 4014 Technical Corrections Act
Sponsors
Rep. Brad Sherman [D-CA] |
History
Date | Chamber | Action |
---|---|---|
2020-04-17 | House | Referred to the House Committee on Financial Services. |
2020-04-17 | House | Introduced in House |
Same As/Similar To
HB748 (Related) 2020-07-23 - Committee on Small Business and Entrepreneurship. Hearings held.
SB4270 (Related) 2020-07-22 - Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
SB4270 (Related) 2020-07-22 - Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Subjects
Accounting and auditing
Bank accounts, deposits, capital
Banking and financial institutions regulation
Cardiovascular and respiratory health
Credit and credit markets
Emergency medical services and trauma care
Finance and financial sector
Infectious and parasitic diseases
Bank accounts, deposits, capital
Banking and financial institutions regulation
Cardiovascular and respiratory health
Credit and credit markets
Emergency medical services and trauma care
Finance and financial sector
Infectious and parasitic diseases
US Congress State Sources
Type | Source |
---|---|
Summary | https://www.congress.gov/bill/116th-congress/house-bill/6551/all-info |
Text | https://www.congress.gov/116/bills/hr6551/BILLS-116hr6551ih.pdf |