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-ABA-Former Comptroller: CECL a 'Real Threat' to Financial System

Feb 03, 2020 - ENP Newswire

In an op-ed in American Banker today, industry veteran and former Comptroller of the Currency Gene Ludwig warned that the Financial Accounting Standards Board's current expected credit loss standard 'will both undermine the financial industry's ability to work itself out of a crisis and discourage lending to small businesses.'

Calling the CECL changes-which took effect for the nation's largest banks this month-'suboptimal at best,' Ludwig shared a concern that ABA has long raised th...