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New Product Designed to Help Banks become CECL Compliant

Equifax launched a product called SmartReserve

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  • Written by  Banking Exchange staff
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New Product Designed to Help Banks become CECL Compliant

According to a press release last week, Equifax, a global information solutions company, launched a product called SmartReserve that is designed to make SEC-registered banks and financial companies compliant with the Current Expected Credit Loss (CECL) standards.  

The deadline for compliance is January 2020 and is expected to bring significant changes to the information banks may maintain and analyse.

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