Abrigo

FEBRUARY 11, 2022

Firm deadline for CECL implementation set As expected, the FASB agreed to uphold CECL’s 2023 implementation date. You might also like " CECL Streamlined: A Webinar Series for 2023 Adopters". Takeaway 1 The FASB agreed to uphold the 2023 implementation date for those that haven’t yet adopted the CECL standard.

CECL 78

CECL Credit Unions Credit and Collections 78

Abrigo

JULY 26, 2021

The Scaled CECL Allowance for Losses Estimator (SCALE) tool was unveiled This tool is allowed only for banks under $1 billion as they transition to CECL. . CECL SCALE is an Excel spreadsheet-based tool. Our dedicated risk management experts are ready to help you transition to CECL with confidence. Starting Point".

CECL 78

CECL Credit and Collections Credit Risk Credit Unions 78

Abrigo

JUNE 3, 2016

The Financial Accounting Standards Board’s (FASB) long-awaited final guidance on its new standard for measuring expected credit losses is expected to be released in June, a step that will be a major milestone in the multi-year development of the current expected credit loss (CECL) model. It is available by replay here.

Credit Unions 68

Credit Unions CECL Credit and Collections Accounting Firms 68

Abrigo

AUGUST 23, 2017

“When considering member business lending and the consumer portfolio where many credit unions focus, change management to prepare for CECL can be even more difficult with a credit union,” says Danny Sharman, risk management consultant at Sageworks during a recent CECL webinar – Data Quality for Credit Unions.

Credit Unions 60

Credit Unions CECL Credit and Collections 60

Abrigo

NOVEMBER 9, 2022

Financial institutions work to meet Q1 2023 CECL deadline A CECL implementation survey by Abrigo found progress by financial instittuions is mixed ahead of the upcoming deadline. . You might also like this: "Beyond CECL: Stress testing, ALM, and financial planning" DOWNLOAD. Progress on CECL.

CECL 78

CECL Credit Unions Credit and Collections Credit Risk 78

Abrigo

MAY 6, 2025

Its purpose is to systematically collect structured, comparable, and analyzable information to support sound, data-driven conclusions. Test underwriting discipline: Verify that loans were originated and monitored according to policy and sound credit principles. credit analysis). Credit strengths: (Explain.)

Credit and Collections 78

Credit and Collections CECL 78

Abrigo

DECEMBER 4, 2020

2023 CECL adopters vary in transition progress Financial institutions face considerable questions and obstacles in regard to their transition to CECL. You might also like this webinar on CECL in economic downturns. Luckily, it seems most financial institutions have remained committed to their CECL preparations.

CECL 78

CECL Credit Unions Credit and Collections 78

Abrigo

AUGUST 1, 2017

In order to prepare for FASB’s Current Expected Credit Loss (CECL) model, credit unions are currently relying on different methods to collect and store data. Limited Data Collection Method In this method, credit unions leverage core system(s) to capture data.

Credit Unions 60

Credit Unions CECL Credit and Collections 60

Abrigo

JUNE 28, 2017

FASB's guidance for estimating expected credit losses is not prescriptive, so, examiners are not asking exactly how you plan to calculate your reserve under CECL today. Data Collection Methods Considerations for each method - Limited method: Not a viable approach for most core systems due to limited data storage.

CECL 60

CECL Credit and Collections Credit Unions 60

Abrigo

FEBRUARY 14, 2023

You might also like this checklist for preparing for the CFPB 1071 rule DOWNLOAD Takeaway 1 Bank and credit union executives are worried about complying with the CFPB's upcoming final rule on small business loan application data. Visit CFPB 1071 resources for lenders for more on data collection requirements for small business lending.

Small Businesses 78

Small Businesses Credit and Collections Credit Unions Credit Risk 78

Abrigo

MAY 31, 2019

1564 , calling for a delay in the implementation of the Financial Accounting Standards Board’s current expected credit loss (CECL) standard. The bill would delay CECL until a “quantitative impact study can be completed to understand its likely effects it will have on the economy.” Thom Tillis (R-NC) introduced a bill, S.

CECL 60

CECL Credit and Collections Credit Unions 60

Abrigo

DECEMBER 22, 2023

The most-read lending & credit blogs in 2023 Probability of default, CECL model validation, and stress testing were among Abrigo's top blogs on ALM, CECL, and portfolio risk this year. Abrigo's blog covered these and other subjects in 35 credit and lending-specific posts this year.

Credit Risk 88

Credit Risk Credit Unions Dashboards CECL 88

Abrigo

AUGUST 8, 2021

Independent Loan Review Systems in Banking Banking regulators have outlined expectations for effective, independent loan review and credit risk review. . Takeaway 1 A system for ongoing, independent credit risk review will not look the same from institution to institution. Would you like other articles on loan review in your inbox?

Credit Risk 78

Credit Risk Credit Unions CECL Credit and Collections 78

Abrigo

APRIL 12, 2021

Takeaway 2 Once a bank or credit union understands the need for an LOS, it develop one or use a third-party vendor. A loan origination system (LOS) has become a common banking buzzword among banks and credit unions in recent years. It’s also important to understand how an LOS may be able to help your bank or credit union.

Credit Unions 135

Credit Unions Credit Risk Credit and Collections Cybersecurity 135

Abrigo

NOVEMBER 17, 2023

How to close more loans by speeding up lending and credit analysis Seeking a quicker loan origination workflow is worth it. You might also like this on-demand webinar on the red flags of emerging CRE risk. At many banks and credit unions, the way lenders and underwriters have handled loans is basically unchanged from decades ago.

Credit Unions 88

Credit Unions CECL Credit Risk Credit and Collections 88

Abrigo

DECEMBER 27, 2022

Or they claim their targets have won a foreign lottery or sweepstake, which they can collect for a "fee." Watch the webinar. Lending & Credit Risk. Portfolio Risk & CECL. The post 2023 Fraud trends: What banks and credit unions can expect appeared first on Abrigo. Update and adjust. Keep me informed.

Credit Unions 78

Credit Unions Cybersecurity CECL Credit and Collections 78

Abrigo

APRIL 20, 2016

With the pressures of changing regulations and data security continuing to increase, banks and credit unions must remain vigilant when it comes to their data. In addition, institutions should determine how they can make better use of the data already being collected. Collection 2. Management 3. Protection 4.

CECL 60

CECL Credit Unions Credit and Collections 60

Abrigo

DECEMBER 23, 2022

As financial regulators have  noted, th is oversight is important because of the potential for long-term complications in financial loss when models such as CECL models or ALM models are misused or incorrect. Liquidity risk Regulators expec t banks and credit unions to maintain adequate levels of liquidity. Lending & Credit Risk.

CECL 78

CECL Credit Unions Credit and Collections Credit Risk 78

Abrigo

APRIL 19, 2022

You might also like this webinar on assessing global cash flow. Takeaway 2 Ensure you have collected all of the pertinent data. Watch the webinar. The most common error starts when the business borrower is given full credit for EBITDA without subtracting distributions to shareholders. Lending & Credit Risk.

Credit Risk 78

Credit Risk CECL Credit and Collections Transactions 78

Abrigo

DECEMBER 14, 2023

You might also like this on-demand webinar, "Strategic plan: How to develop and monitor at your financial institution." In a recent webinar , Abrigo Senior Advisor Paula King provided practical tips to help develop a strategic plan that aligns with your financial institution’s goals, enhances competitive advantage, and drives growth.

Credit Risk 88

Credit Risk Dashboards Credit and Collections CECL 88

Abrigo

JULY 30, 2019

Why is writing effective credit memos so vexing? Given that a credit memorandum is one of the most critical documents in the life of the loan, it would seem like a straightforward process. However, lenders, credit analysts, and other banking staff frequently seek tips for writing better credit memos.

Credit Risk 60

Credit Risk Credit and Collections CECL Credit Unions 60

Abrigo

MARCH 21, 2023

Takeaway 2 Some banks and credit unions were late movers and are now scrambling to lock in funding for the short term to meet liquidity and capital needs. To add insult to injury, many banks and credit unions that had large surge deposit balances from COVID have been seeing those funds leave. 4.75% over the course of 2022 and 2023.

Credit Unions 78

Credit Unions CECL Credit and Collections Credit Risk 78

Abrigo

MAY 30, 2023

Timelines for small business loan data collection and reporting Deadlines for complying with the new CFPB section 1071 rule requirements for financial institutions to collect data on small business loan activities. Takeaway 3 The earliest deadline requires financial institutions to begin collecting data Oct.

Credit Unions 78

Credit Unions Credit and Collections Transactions Small Businesses 78

Abrigo

NOVEMBER 2, 2022

Sorting, collecting, and integrating that data can be tedious—especially due to errors or the need to make other changes. Watch Webinar. Lending & Credit Risk. Credit Risk Management. Credit Risk Regulation. Lending & Credit Risk. Portfolio Risk & CECL. Lending & Credit Risk.

Credit Risk 78

Credit Risk CECL Credit and Collections 78

Abrigo

JANUARY 27, 2022

You might also like this webinar, "ALM Basics: Best Practices in Measuring, Monitoring and Controlling IRR" WATCH . Takeaway 2 If the market trends downward for long, banks and credit unions could actually see another increase in deposits. Lending & Credit Risk. Portfolio Risk & CECL. Lending & Credit Risk.

Credit Unions 78

Credit Unions CECL Credit and Collections Credit Risk 78

Abrigo

JANUARY 12, 2016

One of every six financial institutions responding to the 2015 Sageworks Bank & Credit Union Examination Survey said that examiners criticized or required action related to their risk ratings practices. But avoiding regulators’ inquisition isn’t the only reason that banks and credit unions should review their risk rating systems.

Credit Unions 60

Credit Unions CECL Credit and Collections Default 60

Abrigo

MAY 10, 2022

However, many institutions have available a natural hedge to changing interest rates : the non-maturity deposits (NMDs) they collect. You might also like this webinar, " Is Inflation the Big Gift to Your Earnings? ". Portfolio Risk & CECL. Lending & Credit Risk. keep me informed. Asset/Liability. Stress Testing.

CECL 78

CECL Credit and Collections Credit Risk 78

Abrigo

APRIL 22, 2024

Recent dynamics of the small business lending market A deep understanding of the small business lending landscape and potential efficiencies can help banks and credit unions grow their portfolios. Dynamic market Small business lending by banks & credit unions Small businesses are a pillar of the U.S.

Credit Unions 97

Credit Unions Small Businesses Credit and Collections Credit Risk 97

Abrigo

MARCH 13, 2024

How to respond to CRE loan distress Use these tips for banks and credit unions to identify and handle commercial real estate loans that are showing signs of being problem CRE credits. Takeaway 1 Engaging the bank or credit union loan workout team or an outside expert can help restore CRE loans in distress or mitigate their impact.

Credit Unions 88

Credit Unions CECL Default Credit Risk 88

Abrigo

MAY 22, 2024

Recent stats and dynamics of the small business lending market Understanding the small business lending landscape and potential efficiencies can help banks and credit unions grow their portfolios. Dynamic market Small business lending by banks & credit unions Small businesses are a pillar of the U.S.

Credit Unions 78

Credit Unions Small Businesses Credit and Collections Credit Risk 78

Abrigo

SEPTEMBER 14, 2022

What banks need to know as the CFPB gets closer to its final rule Banks, credit unions, and other creditors may be required to collect more data for each application under a new rule. You might also like this webinar: "Fortify Your Loan Policy to Effectively Manage Credit Risk." Proposed Rule.

Credit and Collections 78

Credit and Collections Credit Unions Credit Risk CECL 78

Abrigo

JUNE 15, 2023

Credit: Brian Koppel, Reel to Real Filming Locations blog According to a Global Financial Integrity (GFI) study , an estimated $2.3 Credit: Brian Koppel, Reel to Real Filming Locations blog According to a Global Financial Integrity (GFI) study , an estimated $2.3 Navigate your BSA exam with tips from this on-demand webinar.

Credit Unions 78

Credit Unions Credit and Collections Transactions CECL 78

Abrigo

MAY 8, 2024

How banks and credit unions use genAI today Short supporting copy. You might also like this webinar, "The check's in the mail: Understanding and preventing check fraud." Credit unions are jumping in too. Banks and credit unions want to serve their clients better and improve their services and products.

Credit Unions 88

Credit Unions Cybersecurity CECL Credit and Collections 88

Abrigo

APRIL 16, 2025

CECL-related proposal from FASB Equipment-financing firms, accounts receivable lenders, and other private firms managing contract-based receivables could benefit under a CECL-related proposal from the Financial Accounting Standards Board (FASB). Need help simplifying CECL? We can help.

CECL 78

CECL Credit Unions Credit and Collections Transactions 78

Abrigo

APRIL 4, 2025

Key topics covered in this post: The right partner matters Communicate & set expectations Strategies for rolling out the software Avoiding frustrating software implementation Banks and credit unions are ramping up their technology spending, but as many financial institution executives know, spending more doesnt guarantee business outcomes.

Credit and Collections 78

Credit and Collections Credit Unions Credit Risk CECL 78