CECL is Top Compliance Challenge
A September 11, 2019 article in news.cuna.org describes the challenges credit unions are facing as the deadline for Current Expected Credit Losses implementation looms.
Despite objections by CUNA that CECL should not apply to credit unions, NCUA intends to press ahead with the implementation according to the deadline. Credit unions need to be prepared and on schedule for CECL.
TCT’s Credit Migration tool meets the credit risk management and ALLL placement requirements of CECL.