1. Short title This Act may be cited as the CECL Consumer Impact and Study Bill of 2019 . 2. Definitions In this Act— (1) the term appropriate committees of Congress 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 Standards Board in June 2016, as amended by Accounting Standards Update 2018–19, Codification Improvements to Topic 326, Financial Instruments—Credit Losses , issued by the Financial Accounting Standards Board in November 2018; (3) the term Commission means the Securities 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; (D) the Comptroller of the Currency; (E) the Commodity Futures Trading Commission; (F) the Federal Deposit Insurance Corporation; (G) the Director of the Federal Housing Finance Agency; and (H) the National Credit Union Administration; 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) ). 3. Study and report (a) In general The Commission and the Federal financial regulators, in consultation with the Financial Accounting Standards Board, shall conduct a quantitative study of— (1) the potential impact that the implementation of CECL may have on the availability of credit, with a particular focus on the impact on that availability— (A) for consumers and small business concerns; and (B) with respect to the credit products on which consumers and small business concerns rely during periods of economic expansion and during recessions