"Pandemic preparedness is an important part of a financial institution’s business continuity planning," states a news release just issued by the National Credit Union Administration (NCUA). NCUA: Ben Hardaway (703) 518-6333: OCC: Stephanie Collins (202) 649-6870: FDIC: PR-21-2015. NCUA Years December 2012 - Present .
Return to top. bankers, analysts, and other stakeholders. The Federal Deposit Insurance Corporation (FDIC) is an Ben Hardaway (703) 518-6333. The federal financial institution regulatory agencies and the state banking regulators issued an interagency statement encouraging financial institutions to work constructively with borrowers affected by COVID-19 and providing additional information regarding loan modifications.The agencies encourage financial institutions to work with borrowers, will not criticize institutions for doing so in a safe and sound manner, and will not direct supervised institutions to automatically categorize loan modifications as troubled debt restructurings (TDRs). collection of financial education materials, data tools, Brian Sullivan (202) 898-6984. Stephanie Collins. There are 10 professionals named "Ben Hardaway", who use LinkedIn to exchange information, ideas, and opportunities. "[The] NCUA is not involved in conversations about insuring" the cooperatives. Regardless of whether modifications are considered TDRs or are adversely classified, agency examiners will not criticize prudent efforts to modify terms on existing loans for affected customers.The NCUA is the independent federal agency created by the U.S. Congress to regulate, charter and supervise federal credit unions. important initiatives, and more. The joint statement also provides supervisory views on past-due and nonaccrual regulatory reporting of loan modification programs.The agencies view prudent loan modification programs offered to financial institution customers affected by COVID-19 as positive and proactive actions that can manage or mitigate adverse impacts on borrowers, and lead to improved loan performance and reduced credit risk.The statement reminds institutions that not all modifications of loan terms result in a TDR. With the backing of the full faith and credit of the United States, NCUA operates and manages the "Protecting credit unions and the consumers who own them through effective regulation."
With the backing of the full faith and credit of the United States, NCUA operates and manages the "Protecting credit unions and the consumers who own them through effective regulation."
Ben Hardaway. changes for banks, and get the details on upcoming Ben has 5 jobs listed on their profile. Ben Hardaway bhardaway@ncua.gov Evann Berry EBerry@ncua.gov Sign Up for NCUA Express Get the latest news and information from the NCUA. NCUA. Learn about the FDICâs mission, leadership, This includes short-term — for example, six months — modifications such as payment deferrals, fee waivers, extensions of repayment terms, or other delays in payment that are insignificant.The agencies’ examiners will exercise judgment in reviewing loan modifications, including TDRs, and will not automatically adversely risk rate credits that are affected, including those considered TDRs.
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