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HR 7914 116th Congress House

Eliminating CECL Accounting Standard Act

Official title: To specify that no person shall be required to comply with the CECL Rule under any Federal statute or regulation.

Introduced: July 31, 2020 See on congress.gov
Finance and Financial Sector Accounting and auditingBanking and financial institutions regulationCredit and credit markets
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This bill died when the 116th Congress ended
It never became law before the 116th Congress (2019–2020) adjourned, and bills don't carry over to the next Congress. It would have to be reintroduced. You can still save it for reference, but it won't receive updates.
 Everywhere this bill has been 2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Jul 31, 2020
Referred to the House Committee on Financial Services.
Jul 31, 2020
Introduced in House
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 Latest action July 31, 2020

Referred to the House Committee on Financial Services.

 Plain-English summary Congressional Research Service

Eliminating CECL Accounting Standard Act

This bill provides that no one shall be required to comply with a specified accounting standard applicable to credit losses (i.e., the current expected credit losses standard, also known as the CECL standard).

 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 1
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APA
U.S. Congress. (2026). H.R. 7914: Eliminating CECL Accounting Standard Act. 116th Congress. Open America. https://openamerica.io/bill/116-HR-7914/
MLA
"H.R. 7914: Eliminating CECL Accounting Standard Act." 116th Congress, 2026, Open America, https://openamerica.io/bill/116-HR-7914/.
Bluebook (legal)
H.R. 7914, 116th Cong. (2026), https://openamerica.io/bill/116-HR-7914/.
Markdown link
[H.R. 7914: Eliminating CECL Accounting Standard Act](https://openamerica.io/bill/116-HR-7914/)
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