The guidance is still valid and the accounting requirements for charge-offs at 60 days remain unchanged.(45 days for credit unions.) This is applicable to both consumer and commercial accounts as this is an accounting practice, not a consumer protection regulation.
For repayment plans, although Regulation Z may not apply to a commercial account, you must also consider whether the business' corporate resolution grants the authority to the officer to borrow money on behalf of the business. If it doesn't you could find yourself with an unenforceable agreement.
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