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TDR Burdens Eased, RegFlex Expanded by NCUA Board

Final rules passed at the NCUA board meeting May 24 include the extension of regulatory flexibility standards to all credit unions, and new rules for troubled debt restructuring that will require written loan workout and nonaccrual policies.

By Heather Anderson | Updated on May 29, 2012

Final rules passed at the NCUA board meeting May 24 include the extension of regulatory flexibility standards to all credit unions, and new rules for troubled debt restructuring that will require written loan workout and nonaccrual policies.

Despite the new written policy requirements, which were opposed by trade organizations, credit unions scored a win in that the past due status of TDRs will now be calculated consistently with loan contract terms, rather than requiring past due status to be reported until six consecutive on-time payments have been made. The new reporting requirements will go into effect June 30.

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