GAO identifies accounting rules as partial reason for bank failure

06/14/2013 | Compliance Week

Accounting rules that limited loss provisions played a role in the failure of some 400 community banks over the course of the financial crisis, according to a report by the Government Accountability Office. U.S. Generally Accepted Accounting Principles that require institutions to limit their loan loss reserves according to historical loss rates exacerbated the issue.

View Full Article in:

Compliance Week

Published in Brief: