Federal regulators have issued proposals for retail credit classification policies and have requested public comment on two timeframe options for classifying retail loans. The policies would guide banks and their regulators in classifying a consumer loan that is not being repaid under its original terms.
The proposals were published in the July 6 Federal Register. The regulators are seeking specific comments on two alternative options for classifying open-end and closed-end retail loans. Option one would charge off delinquent retail loans if they are past due 150 days or more from the …
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