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Financial institutions of all sizes face impending deadlines for compliance with the Financial Accounting Standards Board’s Current Expected Credit Loss (CECL) model. How they choose to meet this obligation will create competitive advantages and disadvantages. Gaps between institutions will be evident in not only compliance efficiency and cost, but also whether or not they’ve acted ahead of implementation to adjust credit strategies, marketing campaigns and collections practices for strong performance under the new conditions. Competitive gaps will widen post-implementation as companies focusing primarily on compliance fall behind those leveraging CECL investments to make better credit lifecycle and capital consumption decisions.