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The Impact of COVID-19 on Loan Modifications  

CATEGORY: Accounting & Auditing
COURSE ID: NAN052, VERSION 1.00
  Nano Learning
0.2 CPE Credits
Level: Basic

The coronavirus pandemic has placed an economic strain on the world. Various federal agencies, state banking regulators, and the FASB are working feverously to enact joint statements and recommendations. One such statement is the Interagency Statement on Loan Modifications by Financial Institutions Working with Customers Affected by the Coronavirus.

On April 7, 2020, this interagency statement was revised. This revised interagency statement encourages financial institutions to work constructively with borrowers impacted by COVID-19. It provides additional information regarding loan modifications and clarifies the interaction between the interagency statement and related relief provided by the Coronavirus Aid, Relief, and Economic Security Act (CARES Act). This course gives an overview of this revised interagency statement. This overview course may be appropriate for professionals at all organizational levels.

Thomson Reuters is committed to bringing innovative solutions to you, now including nano-learning! As per NASBA Standards, a nano-learning course is a 10-minute, electronic, self-study course in which you are eligible to earn 1/5 (or 0.2) CPE credits.

At this time, nano-learning is not accepted by all state boards. If you are not sure whether your state board accepts nano-learning, you can ask your state board or visit the NASBA registry: (nasbaregistry.org).

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