I 
116TH CONGRESS 
1ST SESSION H. R. 3182 
To require the Securities and Exchange Commission and certain Federal 
agencies to carry out a study relating to accounting standards, and 
for other purposes. 
IN THE HOUSE OF REPRESENTATIVES 
JUNE 10, 2019 
Mr. GONZALEZ of Texas (for himself, Mr. SHERMAN, Mr. DAVID SCOTT of 
Georgia, Mr. GOTTHEIMER, Mr. CUELLAR, Mr. LUETKEMEYER, Mr. WIL-
LIAMS, Mr. HILL of Arkansas, Mr. LOUDERMILK, and Mr. BUDD) intro-
duced the following bill; which was referred to the Committee on Finan-
cial Services, and in addition to the Committee on Agriculture, for a pe-
riod to be subsequently determined by the Speaker, in each case for con-
sideration of such provisions as fall within the jurisdiction of the com-
mittee concerned 
A BILL 
To require the Securities and Exchange Commission and 
certain Federal agencies to carry out a study relating 
to accounting standards, and for other purposes. 
Be it enacted by the Senate and House of Representa-
tives of the United States of America in Congress assembled, 
SECTION 1. SHORT TITLE. 
This Act may be cited as the ‘‘CECL Consumer Im-
pact and Study Bill of 2019’’. 
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SEC. 2. DEFINITIONS. 
In this Act— 
(1) the term ‘‘appropriate committees of Con-
gress’’ means— 
(A) the Committee on Banking, Housing, 
and Urban Affairs of the Senate; and 
(B) the Committee on Financial Services 
of the House of Representatives; 
(2) the term ‘‘CECL’’ means the accounting 
standard in ‘‘Accounting Standards Update 2016– 
13, Financial Instruments—Credit Losses (Topic 
326)’’, issued by the Financial Accounting Stand-
ards Board in June 2016, as amended by ‘‘Account-
ing Standards Update 2018–19, Codification Im-
provements to Topic 326, Financial Instruments— 
Credit Losses’’, issued by the Financial Accounting 
Standards Board in November 2018; 
(3) the term ‘‘Commission’’ means the Securi-
ties and Exchange Commission; 
(4) the term ‘‘Federal financial regulators’’ 
means— 
(A) the Secretary of the Treasury; 
(B) the Board of Governors of the Federal 
Reserve System; 
(C) the Bureau of Consumer Financial 
Protection; 
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(D) the Comptroller of the Currency; 
(E) the Commodity Futures Trading Com-
mission; 
(F) the Federal Deposit Insurance Cor-
poration; 
(G) the Director of the Federal Housing 
Finance Agency; and 
(H) the National Credit Union Administra-
tion; and 
(5) the term ‘‘small business concern’’ has the 
meaning given the term in section 3(a) of the Small 
Business Act (15 U.S.C. 632(a)). 
SEC. 3. STUDY AND REPORT. 
(a) IN GENERAL.—The Commission and the Federal 
financial regulators, in consultation with the Financial Ac-
counting Standards Board, shall conduct a quantitative 
study of— 
(1) the potential impact that the implementa-
tion of CECL may have on the availability of credit, 
with a particular focus on the impact on that avail-
ability— 
(A) for consumers and small business con-
cerns; and 
(B) with respect to the credit products on 
which consumers and small business concerns 
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rely during periods of economic expansion and 
during recessions; 
(2) whether implementing CECL could— 
(A) accelerate the depletion of regulatory 
capital that is available for lending purposes 
during a recession; 
(B) have a greater impact on regulatory 
capital, or extend the period in which regulatory 
capital is reduced, during a recession; or 
(C) pose any other systemic risks to the 
economy of the United States; 
(3) the potentially disproportionate impact that 
the implementation of CECL may have on financial 
institutions, taking into account— 
(A) the various sizes and levels of com-
plexity of those financial institutions; and 
(B) the different amounts of resources that 
are available to those financial institutions; 
(4) the potential impact that the implementa-
tion of CECL may have on the decisions made by 
investors; and 
(5) the potential competitive impact that the 
implementation of CECL may have on institutions 
in the United States as a result of differing inter-
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