X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

About a quarter of financial institutions haven’t formed CECL implementation committees yet, according to new data from risk software company Sageworks.

The Raleigh, North Carolina-based firm polled 172 financial institution chief credit officers, chief financial officers, vice presidents of finance, controllers and senior credit staff last month and found that 23% did not have committees dedicated to CECL implementation. Another 5% of the respondents weren’t sure or weren’t involved. The poll also found that 18% had named committee participants but hadn’t taken any action, and 32% had CECL implementation committees that had met a few times but did not have a finalized project plan. Only 22% had CECL implementation committees that were executing on established project plans.

Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.

Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical CUTimes.com information including comprehensive product and service provider listings via the Marketplace Directory, CU Careers, resources from industry leaders, webcasts, and breaking news, analysis and more with our informative Newsletters.
  • Exclusive discounts on ALM and CU Times events.
  • Access to other award-winning ALM websites including Law.com and GlobeSt.com.

Already have an account?

Tina Orem

 

Credit Union Times

Join Credit Union Times

Don’t miss crucial strategic and tactical information necessary to run your institution and better serve your members. Join Credit Union Times now!

  • Free unlimited access to Credit Union Times' trusted and independent team of experts for extensive industry news, conference coverage, people features, statistical analysis, and regulation and technology updates.
  • Exclusive discounts on ALM and Credit Union Times events.
  • Access to other award-winning ALM websites including TreasuryandRisk.com and Law.com.

Already have an account? Sign In Now
Join Credit Union Times
Live Chat

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.