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Banking News
CFPB Issues Advisory on Reporting Elder Financial Abuse (7/18/2019) 
The Consumer Financial Protection Bureau released an advisory to financial institutions for reporting suspected elder financial exploitation.
 
FASB to Delay CECL Implementation for Some Institutions (7/18/2019) 
In a significant move, the Financial Accounting Standards Board voted to propose a delay for the implementation of the current expected credit loss standard until January 2023 for certain companies.
 
ABA Responds to Federal Reserve’s Proposed Revisions to ‘Control’ Framework (7/16/2019) 
ABA responded to a proposal from the Federal Reserve that would amend the regulatory framework for determining whether a bank or company exercises a “controlling influence” over another bank or company under the Bank Holding Company Act and the Home
 
ABA Supports Fed Proposal to Extend Hours to Facilitate Same-Day ACH (7/16/2019) 
ABA submitted comments in support of the Federal Reserve’s recent proposal to modify the Federal Reserve Banks’ National Settlement Service and Fedwire Funds Service to accommodate a third same-day ACH processing and settlement window.
 
Private Flood Insurance Rule Takes Effect Today (7/1/2019) 
The financial regulatory agencies’ joint rule on private flood insurance acceptance takes effect today, July 1.
 
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