Bank of America, JPMorgan Chase, Wells Fargo report CECL impact | Auto Finance News | Auto Finance News

Bank of America, JPMorgan Chase, Wells Fargo report CECL impact

cecl accounting reporting

As big banks adopt the Current Expected Credit Losses (CECL) rule, effective Jan. 1, the increase in the allowance for credit losses range from $1.5 billion to $4.3 billion, according to fourth-quarter earnings reports from Bank of America, JPMorgan Chase & Co. and Wells Fargo Co.  JPMorgan reported an overall net increase to the allowance for credit […]

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