WASHINGTON, D.C. – Today, Congressman Blaine Luetkemeyer (MO-03) joined Congressman Gregory Meeks (NY-05) in sending a letter urging the Financial Accounting Standard Board (FASB) to suspend implementation of the Current Expected Credit Loss (CECL) accounting standard in response to the coronavirus.

“There is simply too much uncertainty at this time to implement a foundational change to our financial accounting system… we call on FASB to suspend CECL implementation, and allow for further study on the economic implications of this new accounting standard,” said the members.  

Click HERE to read the letter.