In the midst of the COVID-19 pandemic, some good news for financial institutions arrived on April 16, 2020, from the Consumer Financial Protection Bureau (CFPB) in the form of final…
How Banks and Credit Unions Can Prepare for Coronavirus Mortgage Relief Measures
Coronavirus has had a swift and significant impact on the economy. According to the U.S. Department of Labor, unemployment claims for the week ending March 21, 2020, reached a record…
Accounting Rules Eased for Loan Modifications in Response to COVID-19
Financial institutions now have greater ability to accommodate and provide support to borrowers affected by COVID-19, thanks to an Interagency Statement released Sunday evening, March 22, 2020. This guidance provides…
Latest in Lease Accounting: Additional One-Year Implementation Delay Proposed for Private Companies and Most Not-For-Profits
Editor’s note: On April 21, 2020, the Financial Accounting Standards Board (FASB) proposed an optional, one-year implementation delay for certain private companies and nonprofits, as a result of the COVID-19…
Pension Reporting Changes Ahead for State and Local Governments
Pensions, post-employment benefits and other government funds must soon be reported under a new fiduciary activity standard, according to the Governmental Accounting Standards Board (GASB). In June 2017, GASB issued…