Kustoff Questions Secretary Mnuchin on Implementation of CECL on West Tennessee Community Banks
WASHINGTON, DC—Today, Congressman David Kustoff (TN-08), questioned United States Secretary of the Treasury, Steven Mnuchin, in the House Financial Services Committee on the Current Expected Credit Loss (CECL) and how its implementation will affect West Tennessee community banks.
“West Tennessee is home to many strong community banks however, the implementation of CECL could have devastating effects on the small banking industries ability to lend money. I was glad to hear that Secretary Mnuchin shared this concern and is carefully looking into delaying the impact,” said Rep. Kustoff.
To watch the full questioning, click here.