In what CUNA Deputy General Counsel Mary Dunn acknowledged hasbecome a somewhat rare occurrence, CUNA has commented in a largelyapproving manner on the NCUA's most recent proposal for how CUs should track troubled debt restructuredloans.
|Currently the agency requires these loans be tracked in a waywhich CUs have complained is time and work intensive and, in some cases, hasactually interfered with the CU's ability to help out economicallydistressed members.
|“CUNA commends Chairman Matz, the other board members, and NCUAsenior staff, especially Larry Fazio, for recognizing the concernsraised by CUNA and moving forward on these issues,” the associationwrote in its March 2 letter.
|“We believe the proposal is an important step forward in termsof guidance and reporting requirements for TDRs, and would provideregulatory relief on TDRs generally,” CUNA added.
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