The American Bankers Association claims that United States President Joe Biden’s move will “harm investors, customers, and ultimately the financial system.” Just hours prior to United States President Joe Biden vetoing the Staff Accounting Bulletin (SAB) 121 repeal on May 31, the largest lobbying organization for the U.S. banking industry — American Bankers Association (ABA)…
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United States President Joe Biden said he vetoed the resolution because “he will not support measures that jeopardize the well-being of consumers and investors.” United States President Joe Biden has vetoed a resolution that would have overruled the U.S. Securities and Exchange Commission (SEC) Staff Accounting Bulletin (SAB) No. 121. The controversial decision was immediately…
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