CECL is coming! Are you prepared to leverage this new model or prepared to scramble? CECL — the Current Expected Credit Loss model — comes into effect for SEC institutions in 2020 and if you’re not already working to understand the challenges of CECL, you should be preparing how to adjust your methods to remain compliant and competitive.
The End of the Educated Guess
This is the first of a mulit-part blog series on what lenders need to know about CECL. We will discuss how CECL is different from historic loss analysis, how your business needs to adjust, and what you can do now to ensure your business remains compliant and competitive.