CECL is a new standard set forth by the FASB. It is set to be implemented in 2020 for all SEC registrants and 2021 for all other banks. The ABA terms it a "significant challenge for the banking industry" and notes that it has the potential to change the way banks do business. While many industry associations seek to delay or mitigate the implementation of CECL, the fact is, it is coming, and banks need to be prepared. More..