It’s Time for a Closer Look at Consumer Loan Monitoring: Here Are Some Best Practices

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Bill Byrnes and Matthew Moore, Protiviti Managing Directors

With aggregate household debt climbing the last 24 consecutive quarters to a record $13.5 trillion and the increasing likelihood of a softening economy, financial institutions should reassess the risk management practices in place for consumer lending. Additionally, with the impending deadline for implementation of the Current Expected Credit Loss standard (CECL), a closer look at lending practices can result in more accurate estimates of expected losses.

This article focuses on three areas that can help risk managers enhance credit risk management practices over consumer portfolios.

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