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What is the CECL Compliance Date for Banks and Credit Unions?

CECL was finalized in 2016 by the Financial Accounting Standards Board (FASB). Many banks and some credit unions have already implemented CECL, as the CECL compliance deadline for banks and nonprofit companies was originally 2022, but the FASB has changed it to 2023.  The CECL compliance deadline for credit unions and most smaller reporting companies has also been pushed out to January 2023.