Events Calendar

Collection Series Webinar: Troubled Debt Restructuring in the COVID Economy
Wednesday, June 09, 2021, 03:00pm - 04:30pm

Increased TDRs go hand-in-hand with the COVID economy. But what qualifies as a TDR right now? The CARES Act was passed to allow for short-term relief, but what happens when that expires? Join us to learn about compliant collections and reporting under COVID-related restraints.

AFTER THIS WEBINAR YOU’LL BE ABLE TO:

  • Compare and contrast the different types of loan modifications
  • Define and identify troubled debt restructurings (TDRs)
  • Explain interagency regulatory guidance
  • Consider and calculate required reserves in the allowance for loan losses
  • Compile loan modification disclosures
  • Implement best-practice recommendations

WEBINAR DETAILS

Troubled debt restructurings (TDRs) were common during the Great Recession and have made a comeback in the COVID economy. Relief was granted to credit unions in 2020 with Section 4013 of the CARES Act and the Interagency Statement. But what happens when that relief expires? Subsequent loan deferments and modifications will have to be evaluated for TDR reporting. This session will guide you through the process of identifying TDRs, calculating required reserves, compiling financial disclosures, and implementing best practice recommendations along the way. Please bring your questions!

WHO SHOULD ATTEND?

This informative session is designed for lending and collections personnel, loan modification staff, and those responsible for loan modification accounting and reporting.

TAKE-AWAY TOOLKIT

  • TDR evaluation checklist
  • Employee training log
  • Interactive quiz

SPEAKER:  Stephen Schiltz, CLA

Steve Schiltz is principal with CLA’s Tucson office. He began his career with CLA in 2002 and has extensive experience providing assurance and consulting services to community financial institutions. Steve has made presentations to management teams, supervisory committees, and boards of directors, as well as national speaking engagements and webinars.

A licensed CPA in Arizona and Texas, Steve is a member of the AICPA, Arizona Society of CPAs and the Beta Gamma Sigma Honor Society. He received his bachelor’s in accounting, cum laude, from the University of Arizona in Tucson.