CECL Consumer Impact and Study Bill of 2019
Latest action · Jun 28, 2019 Referred to the Subcommittee on Commodity Exchanges, Energy, and Credit.
Progress
Where this bill reached, and when. A stage with no date was not reached; one that failed a vote and later carried shows the date it carried.
- IntroducedJun 10, 2019
- Passed HouseNot reached
- Passed SenateNot reached
- To the PresidentNot reached
- Became lawNot reached
Summary
CECL Consumer Impact and Study Bill of 2019
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, financial institutions, and nonfinancial institutions. Required compliance with the CECL standard is delayed until one year after submission of this report.
Cosponsors 68
Members who signed on, in the order they did. Signatures ran from Jun 10, 2019 to Mar 4, 2020; 9 are original cosponsors, there from the day it was introduced.
| Seat | Cosponsor | Signed on | |
|---|---|---|---|
| R-GA | Barry Loudermilk | Original | Jun 10, 2019 |
| R-MO | Blaine Luetkemeyer | Original | Jun 10, 2019 |
| D-CA | Brad Sherman | Original | Jun 10, 2019 |
| D-GA | David Scott | Original | Jun 10, 2019 |
| D-TX | Henry Cuellar | Original | Jun 10, 2019 |
| R-AR | J. French Hill | Original | Jun 10, 2019 |
| D-NJ | Josh Gottheimer | Original | Jun 10, 2019 |
| R-TX | Roger Williams | Original | Jun 10, 2019 |
| R-NC | Ted Budd | Original | Jun 10, 2019 |
| R-TN | David Kustoff | Jun 11, 2019 | |
| R-TX | Jodey C. Arrington | Jun 25, 2019 | |
| R-KS | Roger Marshall | Jun 25, 2019 | |
| R-TX | Lance Gooden | Jun 27, 2019 | |
| R-OH | Anthony Gonzalez | Jul 2, 2019 | |
| R-VA | Denver Riggleman | Jul 2, 2019 | |
| R-LA | Ralph Lee Abraham | Jul 2, 2019 | |
| D-OH | Joyce Beatty | Jul 9, 2019 | |
| R-OK | Tom Cole | Jul 9, 2019 | |
| R-FL | Bill Posey | Jul 10, 2019 | |
| R-NC | Mark Meadows | Jul 10, 2019 | |
| R-AR | Steve Womack | Jul 10, 2019 | |
| D-VA | Jennifer Wexton | Jul 12, 2019 | |
| R-OH | Steve Stivers | Jul 12, 2019 | |
| R-PA | Brian K. Fitzpatrick | Jul 15, 2019 | |
| R-AR | Eric A. "Rick" Crawford | Jul 15, 2019 | |
| R-OK | Frank D. Lucas | Jul 16, 2019 | |
| D-OK | Kendra S. Horn | Jul 16, 2019 | |
| R-KS | Steve Watkins | Jul 16, 2019 | |
| R-KY | Andy Barr | Jul 22, 2019 | |
| R-WI | Bryan Steil | Jul 22, 2019 | |
| R-LA | Clay Higgins | Jul 22, 2019 | |
| R-KY | Harold Rogers | Jul 22, 2019 | |
| R-AR | Bruce Westerman | Jul 24, 2019 | |
| R-NE | Adrian Smith | Aug 2, 2019 | |
| D-CA | J. Luis Correa | Aug 2, 2019 | |
| R-MO | Ann Wagner | Sep 10, 2019 | |
| R-LA | Mike Johnson | Sep 10, 2019 | |
| R-TX | Bill Flores | Sep 17, 2019 | |
| R-NC | David Rouzer | Sep 17, 2019 | |
| R-VA | H. Morgan Griffith | Sep 17, 2019 | |
| R-OK | Kevin Hern | Sep 17, 2019 | |
| R-NE | Don Bacon | Sep 25, 2019 | |
| R-MT | Greg Gianforte | Sep 25, 2019 | |
| D-TX | Sheila Jackson Lee | Sep 25, 2019 | |
| R-NC | Virginia Foxx | Sep 25, 2019 | |
| D-NY | Anthony Brindisi | Sep 27, 2019 | |
| D-NH | Chris Pappas | Sep 27, 2019 | |
| R-OK | Markwayne Mullin | Sep 27, 2019 | |
| D-NH | Ann M. Kuster | Oct 15, 2019 | |
| R-AZ | Debbie Lesko | Oct 15, 2019 | |
| R-MI | Jack Bergman | Oct 15, 2019 | |
| R-AL | Mo Brooks | Oct 15, 2019 | |
| R-LA | Garret Graves | Oct 21, 2019 | |
| D-UT | Ben McAdams | Oct 23, 2019 | |
| D-AZ | Ann Kirkpatrick | Oct 29, 2019 | |
| R-AK | Don Young | Oct 29, 2019 | |
| D-HI | Ed Case | Oct 29, 2019 | |
| R-NC | Dan Bishop | Nov 13, 2019 | |
| R-NC | Mark Walker | Nov 19, 2019 | |
| R-MO | Vicky Hartzler | Nov 21, 2019 | |
| R-AZ | David Schweikert | Dec 4, 2019 | |
| R-IN | Greg Pence | Jan 27, 2020 | |
| R-MO | Jason Smith | Feb 26, 2020 | |
| R-SC | William R. Timmons IV | Feb 26, 2020 | |
| R-TX | Dan Crenshaw | Mar 3, 2020 | |
| D-CA | Harley Rouda | Mar 3, 2020 | |
| R-TN | John W. Rose | Mar 4, 2020 | |
| R-TX | Pete Olson | Mar 4, 2020 |
Committees 2
Where it was sent and what each committee and subcommittee did with it, in order.
| Chamber | Committee | What it did |
|---|---|---|
| House | Financial Services Committee | Referred Jun 10, 2019 |
| House | Agriculture Committee | Referred Jun 10, 2019 |
| Commodity Markets, Digital Assets, and Rural Development Subcommittee | Referred Jun 28, 2019 |
Actions 3
Everything that happened, newest first.
- Jun 28, 2019Referred to the Subcommittee on Commodity Exchanges, Energy, and Credit.
- Jun 10, 2019Introduced in House
- Jun 10, 2019Referred to the Committee on Financial Services, and in addition to the Committee on Agriculture, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Research
What has been written about this bill: committee reports, cost estimates, the sponsor’s authority statement, printed hearings and the Congressional Research Service’s work.
Constitutional authority
The sponsor’s statement, as printed in the Congressional Record, vol. 165, no. 96, June 10, 2019, page H4389.
Related bills 2
Companion bills and other measures the record links to this one.
| Bill | Title | Relationship | Latest action |
|---|---|---|---|
| S 1564 | Continued Encouragement for Consumer Lending Act | Related bill | May 21, 2019 |
| HR 6396 | Responsible Relief for Americans Act | Related bill | Sep 30, 2020 |
Titles 2
Every title it has carried, official and short, at each stage.
- Official Title as Introduced
- To require the Securities and Exchange Commission and certain Federal agencies to carry out a study relating to accounting standards, and for other purposes.
- Short Title(s) as Introduced
- CECL Consumer Impact and Study Bill of 2019
Subjects
Assigned by the Library of Congress. Policy area: Finance and Financial Sector.
- Accounting and auditing
- Administrative law and regulatory procedures
- Bank accounts, deposits, capital
- Banking and financial institutions regulation
- Business investment and capital
- Competition and antitrust
- Competitiveness, trade promotion, trade deficits
- Congressional oversight
- Consumer credit
- Economic performance and conditions
- Finance and Financial Sector
- Financial services and investments
- Government studies and investigations
- Securities and Exchange Commission (SEC)
- Small business
Text 1
Each version as it was printed, newest first.
- Jun 10, 2019Introduced in House
Everything here is as published by Congress: the summary is the Congressional Research Service's, the action wording is the clerks', and the subjects are the Library of Congress's. How far it got is read from the actions themselves, taking the most recent one of each kind, so a bill that failed a vote and later passed is shown as having passed. Records come from this bill on Congress.gov and govinfo.gov; cost estimates are the Congressional Budget Office's, and the hearings are the printed hearings GovInfo publishes, which can appear months after the hearing.
