Ardmore's Peter Cherpack Published in American Banker

04/25/2016

Peter Cherpack, Ardmore's Executive Vice President & Senior Director, and CEO of Ardmore Fintellix was recently published in American Banker's Bank Think section with an op/ed piece entitled "On CECL, Time for Everyone to Just Take a Deep Breath".

The article focused on the uncertainty swirling around FASB's new Current Expected Credit Loss (CECL) model for calculating ALLL, which is scheduled to be implemented in 2020, and its reception by the banking community.  Mr. Cherpack said that the numerous delays of the implementation, along with the debate about how easy the new model will be to adhere to has created a "deer in the headlights" reaction among community bankers.  

Mr. Cherpack goes on to state that regardless of what the final implementation date or components of the model turn out to be, that now is the time that bankers should be addressing the foundation of the future CECL calculation, which is the amount and integrity of their own portfolio data.  

To read the article in its entirety, please click here.