The banking sector’s opposition to the new current expected credit loss (CECL) standard developed by the Financial Accounting Standards Board has been unrelenting, leading to a series of proposals to partially and temporarily delay implementation of the standard. The American Bankers Association has contended that such a delay should be “full and indefinite.”
The trade association reiterated previously expressed concerns about the potential negative impacts of CECL and detailed new ones as well, supporting its conclusion that regulators should re-evaluate the standard.
Find out more about the association’s argument.