SFA submitted a letter on Wednesday, March 25, to the Securities and Exchange Commission (SEC) requesting a delay in implementing new Current Expected Credit Losses (CECL) accounting standards. “In order to remove impediments from financial institutions’ abilities to support customers to the greatest extent possible throughout the current situation, SFA respectfully requests that any relief package contain a uniform delay of the CECL accounting standard implementation for all financial institutions.”

Read SFA’s letter here.