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CECL disclosure requirements for 2023 filers and others New disclosures are required under CECL in some cases. Here’s how they’re changing for financial institutions. See below for key takeaways of this article. Stay updated on all things CECL. 1. New Disclosures Under CECL CECL disclosures play a central role in the new standard, but many financial institutions begin work on them too late in the process.
When JSP Credit Management was first incorporated, naturally a fair amount of preparatory work had already been done. Things such as building a website, getting our terms and conditions done, and building a business plan. The business plan was a struggle, to be honest, particularly the “marketing” section. “Marketing plan?”, we thought, “what on earth is one of them?”.
The Biz2Credit Small Business Lending Index for August reveals banks and non-bank lenders approved more loans in August. This includes big and small banks as well as institutional and alternative lenders. Only credit unions didn’t see any change, staying the same for the past two months with a 20.5% loan approval rate. The percentage of loan approvals by non-bank lenders was up considerably in August.
Your past-due accounts are growing, cash flow is tightening, and the pressure is on. The big question: Do you handle the collections internally or outsource to experts? Both strategies come with advantages and risks - but which one delivers the best impact for your business? In this session we’ll dive deep into the in-house vs. outsourcing debate, examining cost-effectiveness, efficiency, compliance risks, and overall recovery success rates.
The DNA of an Effective Loan Reviewer Independent loan reviewers need certain competencies or traits. Consultant Ancin Cooley explains in this video. Would you like other content like this in your inbox? . Takeaway 1 A loan reviewer must have solid technical skills in order to do the job competently. . Takeaway 2 Curiosity is an important trait for loan reviewers to have to be effective. .
The Latin phrase “ Scientia potential est” translates to the phrase you may know as “ Knowledge is power.” This phase is attributed to Sir Francis Bacon in the 1600s, and it is still relevant today. Knowledge gives the information you need to make better decisions. In business, this information is essential. There is no better example than your business credit report.
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