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June 13 2017

CPE Credit(s): 1

A recent survey of 100 financial institutions that was conducted by Compliance Week and RapidRatings Inc. reveals sharp and surprising diversity in how respondents are assessing and preparing for the CECL Accounting Standards Update.  According to the survey results, only 33% of financial institutions have a plan to address this revolutionary accounting change, and even fewer (23%) report having one in place.  It seems that there is much work to be done to prepare for CECL.

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