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Posted: Feb 7, 2019
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Author: Randy Daigle

CECL is One of Them

So, you can now breathe a little easier, just a little, with the Financial Accounting Standards Board (“FASB”) officially delaying Current Expected Credit Loss (“CECL”) implementation to fiscal years beginning after December 2021. Basically, the credit union will need to move from estimating Allowance Loan and Lease Losses (“ALLL”) based on averages of historical losses (that is, looking in the rear-view mirror) to developing future predictive models to estimate loan losses and to set loss reserves in 2022. This must be done for each individual loan booked, on the day the loan closes, and ongoing throughout the loan.

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Posted: Jun 8, 2017
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Author: Paul Castner

Google's Loren Hudziak says look at what's possible and then go beyond that.

“To make technological break-throughs, we need to reconstruct the mental model we have about technology. We can’t look at technology based on how it affects what we do, in our daily lives or in the credit union industry. There are concepts people have heard of, understand somewhat, but still view them through today’s lenses, instead of a view to the future.” Google Solutions Architect Loren Hudziak gave a historic example of this concept to the 350+ credit union attendees during the 2017 CSCU annual conference.
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