The American Bankers Association (ABA) released a white paper that outlined concerns over the expansion of mark-to-market accounting and the lack of due process and divergence between the Financial Accounting Standards Board (FASB) and the International Accounting Standards Board (IASB) on projects relating to financial instruments. 

“What the accounting boards are discussing now would be the biggest accounting change we've ever seen,” said Donna Fisher, ABA’s senior vice president of tax, accounting and financial management. “We are deeply concerned that the shortcuts being taken will result in flawed or inconsistent rules.”

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