3.0.0 6551 2023-01-11T13:43:10Z 2023-01-11T13:43:10Z House HR 2020-04-17 116 [Congressional Record Volume 166, Number 73 (Friday, April 17, 2020)][House]From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]By Mr. SHERMAN:H.R. 6551.Congress has the power to enact this legislation pursuantto the following:Article I, Section 8, Clauses 1 and 18 of the United StatesConstitution.[Page H1895]]]> hsba00 Financial Services Committee House Standing Referred to 2020-04-17T15:02:35Z CARES Act 116 748 HR 2020-07-23 Committee on Small Business and Entrepreneurship. Hearings held. Related bill CRS A bill to amend the CARES Act to ensure that the temporary relief from CECL standards does not terminate in the middle of a company's fiscal year. 116 4270 S 2020-07-22 Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. Related bill CRS 2020-04-17 Referred to the House Committee on Financial Services. IntroReferral H11100 2 House floor actions hsba00 Financial Services Committee 2020-04-17 Introduced in House IntroReferral Intro-H 9 Library of Congress 2020-04-17 Introduced in House IntroReferral 1000 9 Library of Congress S000344 Rep. Sherman, Brad [D-CA-30] BRAD SHERMAN D CA 30 N Finance and Financial Sector 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 Infectious and parasitic diseases Finance and Financial Sector 00 2020-04-17 Introduced in House 2020-12-08T15:41:49Z CARES Act Section 4014 Technical Corrections Act

This bill 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.

]]> CARES Act Section 4014 Technical Corrections Act Display Title CARES Act Section 4014 Technical Corrections Act Official Title as Introduced To amend the CARES Act to ensure that the temporary relief from CECL standards does not terminate in the middle of a company's fiscal year. Introduced in House IH Short Title(s) as Introduced CARES Act Section 4014 Technical Corrections Act Introduced in House IH Introduced in House 2020-04-17T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-116hr6551ih/xml/BILLS-116hr6551ih.xml 2020-04-17 Referred to the House Committee on Financial Services. text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. Congressional Research Service, Library of Congress This file contains bill summaries and statuses for federal legislation. A bill summary describes the most significant provisions of a piece of legislation and details the effects the legislative text may have on current law and federal programs. Bill summaries are authored by the Congressional Research Service (CRS) of the Library of Congress. As stated in Public Law 91-510 (2 USC 166 (d)(6)), one of the duties of CRS is "to prepare summaries and digests of bills and resolutions of a public general nature introduced in the Senate or House of Representatives". For more information, refer to the User Guide that accompanies this file.