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New NCUA Rules Require Written TDR Policies, Ease Reporting Burdens: Onsite Coverage

ALEXANDRIA, Va. The NCUA Board extended regulatory flexibility standards but required written loan workout policies for troubled debt restructuring by Oct. 1.

By Heather Anderson | Updated on May 24, 2012

ALEXANDRIA, Va. —The NCUA Board on Thursday extended regulatory flexibility standards to all credit unions, but will require written loan workout policies for troubled debt restructuring by Oct. 1.

However, credit unions scored a win in that TDRs will not be required to be reported as past due until six consecutive timely payments have been made. Instead, effective June 30, TDR past due status will now be calculated consistently with loan contract terms.

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