There’s a lot that goes into CECL compliance (read CECL Part 1: Four Steps to Becoming Compliant), which means that formulating an effective compliance strategy will take more require more than just a couple hours of your time. To get on board with CECL compliance, everyone must be aware of changes that need to be made, and how they might affect their work. This will begin by creating a CECL compliance team with members from different functional areas in your credit union.
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