AFSA, Trades Call on SEC to Delay CECL
The American Financial Service Association, along with other trades, in a comment letter on March 22, called on the Securities & Exchange Commission (SEC) to delay implementation of the Current Expected Credit Loss (CECL) accounting standards. The letter notes that in this critical time for our country, "the focus and efforts of banks, as it is for our government, should be targeted onsupporting the economy and we should not be subject to incentives that constrain our ability to lend and help to restore our communities during these troubled times."
March 23rd, 2020
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