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NCUA

RIN: 3133-AF30

Publication ID: Spring 2021

Title: ●Capitalization of Interest in Connection With Loan Workouts and Modifications
Abstract: The NCUA Board issued a proposed rule to remove the prohibition against federally insured credit unions capitalizing interest in connection with loan workouts and modifications. In conjunction with removing this prohibition, the proposed rule requires several consumer protection and safety and soundness safeguards for credit unions that engage in this practice. The proposed rule also makes several more technical updates and clarifications to the current regulation governing loan workouts and modifications. The Board is reviewing public comments received on the proposed rule. Please note that the entry for RIN 3133-AF27 is duplicative of this rule entry. The two RINs have therefore been merged.
Agency: National Credit Union Administration(NCUA)	Priority: Substantive, Nonsignificant
RIN Status: First time published in the Unified Agenda	Agenda Stage of Rulemaking: Final Rule Stage
Major: No	Unfunded Mandates: No
CFR Citation: 12 CFR 741 Appendix B
Legal Authority: 12 U.S.C. 1757 12 U.S.C. 1766(a) 12 U.S.C. 1781 to 1790 12 U.S.C. 1790d 31 U.S.C. 3717

Legal Deadline: None

Timetable:

Action	Date	FR Cite
NPRM	12/04/2020	85 FR 78269
NPRM Comment Period End	02/02/2021
Final Action	05/00/2021

Regulatory Flexibility Analysis Required: No	Government Levels Affected: None
Small Entities Affected: No	Federalism: No
Included in the Regulatory Plan: No
RIN Information URL: https://www.ncua.gov/regulation-supervision/rules-regulations/proposed-pending-recently-final-regulations/recent-final-interim-final
RIN Data Printed in the FR: No
Related RINs: Merged with 3133-AF27
Agency Contact: Ariel Pereira Senior Staff Attorney National Credit Union Administration 1775 Duke Street, Alexandria, VA 22314 Phone:703 548-2778 Fax:703 518-6569 Email: apereira@ncua.gov