Peter Cherpack Contributes CECL Article to RMA Journal
Peter Cherpack, Ardmore's Executive Vice President & Senior Director of Credit Technology, recented contributed an article on CECL's impact on community banks to the RMA Journal.
The article, published this month, states that while smaller banks may have been slowest to begin preparing for FASB's new rule change, expecting that their lower asset size meant that they could keep doing what they are doing, that regulators are still expecting banks of all sizes to begin gathering and housing pertinent data, change loan segmentation and use the new calculation.
This has resulted in a great deal of uncertainty, which Peter has attempted to clarify using regulators' information released during a series of webinars this summer. To read the full article, please click here.