Troubled Debt Restructuring Proposed Rule Approved by NCUA: Onsite Coverage
ALEXANDRIA, Va. — Federally insured credit unions will have to have written loan workout policies and calculate and report troubled debt restructuring loan delinquency based on restructured contract terms.
These were among the provisions of a proposed rule the NCUA Board approved and sent out for comment on Thursday.
The TDR rule also requires federally insured credit unions to stop accruing interest on loans at least 90 days or more past due.
There is a 30-day comment period.