Hsu’s Message to Community Banks: CECL Will Deliver Benefits

Community Banks implementing the current expected credit loss accounting standard this year will be recognized for “good faith efforts” by regulators, and should expect to see benefits from following CECL.

That was a key message from Acting Comptroller of the Currency Michael Hsu in an RMA Risk Readiness webcast that focused on CECL but also touched on the importance of diversity, equity, and inclusion and the challenges of an uncertain economy.

Th…