S. 1564

Referred to Committee

Continued Encouragement for Consumer Lending Act

Introduced 5/21/2019•116th Congress•Senate

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Latest Action

Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

5/21/2019 • Senate

Summary

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.

Introduced in Senate • 5/21/2019

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Topics & Subjects

Policy Area: Finance and Financial Sector

Accounting and auditingAdministrative law and regulatory proceduresBank accounts, deposits, capitalBanking and financial institutions regulationBusiness investment and capitalCompetition and antitrustCompetitiveness, trade promotion, trade deficitsCongressional oversightConsumer creditEconomic performance and conditionsFinancial services and investmentsGovernment studies and investigationsSecurities and Exchange Commission (SEC)Small business