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Credit unions will get an overview of the things they need to do to comply with NCUA's revised rule on loan workouts and troubled debt restructurings today during NAFCU's webcast, "Comply with the NCUA Troubled Debt Restructuring Rule."

Led by Gregory Schwartz of CliftonLarsonAllen, today's webcast will look at the changes NCUA made this spring to insured credit unions' accounting and reporting requirements in connection with credit unions' loan modifications with members.

The final rule, as strongly urged by NAFCU, permits credit unions to modify loans without having to classify them immediately as delinquent. NCUA is also looking at implementing another recommendation of NAFCU's this fall: applying those rule changes to member business loans as well.

For now, the rule applies only to consumer loans, including mortgage loans. It no longer requires credit unions to track and report consumer loan workouts for six months and keep them in nonaccrual status. However, it does require federally insured credit unions to maintain a written loan workout policy. It also requires credit unions to adopt nonaccrual policies and bars them from collecting interest on loans that are past due 90 days or more.

Today's webcast gives an overview of the final rule and issues to consider in designating a loan as a TDR.

The webcast is set for 2-3:30 p.m. Eastern. Register now.