FASB Chairman Faces House Subcommittee on CECL’s Economic Impact



The Wall Street Journal reported that a house subcommittee interrogated FASB Chairman Russell Golden on the credit-loss standard’s potential impact on the economy.

The Journal noted that committee expressed concern that the new standard would limit available credit in the event of a recession.

Although FASB conducted a cost-benefit analysis during its process of changing the rule, the house committee questioned whether this analysis was enough, according to the Journal.


Like this story? Begin each business day with news you need to know! Click here to register now for our FREE Daily E-News Broadcast and start YOUR day informed!

Leave a comment

View Latest Digital Edition

Terry Mulreany
Subscriptions: 800 708 9373 x130
[email protected]
Susie Angelucci
Advertising: 484.459.3016
[email protected]

View Latest Digital Edition

Visit our sister website for news, information, exclusive articles,
deal tables and more on the asset-based lending, factoring,
and restructuring industries.
www.abfjournal.com