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4 Ways to Help Investors Understand the CECL Transition: Disclosure Tips

By Mary Ellen Biery, Sageworks

October 23 — As Securities and Exchange Commission (SEC) filers prepare to meet the deadline to implement the FASB’s current expected credit loss model, or CECL, for fiscal years beginning after Dec. 1, 2019, SEC registrants are weighing what CECL transition disclosures to provide about the new standard and its expected impact. Some investors are already beginning to see early disclosures about the new standard.

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ABA Faces Discrimination Lawsuit

October 22 — A new lawsuit brought by Outten & Golden LLP on behalf of Christine “Christy” Walika, alleges that women and minorities employed by the American Bankers Association “are subjected to systemic discrimination and a culture of fear designed to deter them from reporting discrimination or otherwise advocating for equal opportunity,” according to a release from the firm.

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Demand for Digital Payments Is Climbing, but Regulatory and Operational Hurdles Persist

October  19 — Digital payments are experiencing a boom, driven by developing markets, according to Capgemini and BNP Paribas’ World Payments Report 2018. However, the innovation landscape is payments is uncertain as bigtech entrants make their presence felt, and incumbents face technical and regulatory complexity in the development of new collaborative payments ecosystems between themselves and fintechs. According to the report, it will take more than bank-led initiatives to grow the new payments landscape. The broader financial services community — including public-sector organizations, regulators and third parties — must determine their new roles and work together with large payment users to ensure a smooth, balanced and robust payments ecosystem development.

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Where Do Financial Institutions’ Communications Risks Originate?

October 19 — A survey  of compliance professionals in the financial inudstry by Portland, Ore.-based Smarsh, found that organizations may not be keeping pace with their retention and supervision efforts — particularly with a growing, younger workforce that relies on expanding, mobile-friendly channels, such as social media and text messaging. As a result, evolving technologies and shifting demographics within the workforce, and within firms’ customer bases, are forcing organizations to rethink their approach to the adoption and oversight of electronic communications.

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Dealmaker Optimism Hits Record High in M&A Survey

October 18 — Respondents to Dykema’s 14th Annual M&A Outlook Survey expressed the highest level of optimism for the M&A market seen in the history of the study. Sixty-five percent of respondents expect the M&A market to strengthen over the next 12 months, significantly up from the mid- to high-30s where it has remained for the past several years. The increased optimism is tied to economic conditions, with 64 percent of respondents indicating a positive outlook on the economy during the next 12 months.

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