12 CFR 313.23
§ 313.23 Offset prior to completion of procedures.
United States · 12 CFR — Banks and Banking · Status: effective
Cite this
- Citation
- 12 CFR 313.23, § 313.23 Offset prior to completion of procedures, United States, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/46296
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Full text
The FDIC may collect a debt by administrative offset prior to the completion of the procedures described in § 313.25, if:
(a) Failure to offset a payment would substantially prejudice the FDIC's ability to collect the debt; and
(b) The time before the payment is to be made does not reasonably permit completion of the procedures described in § 313.25. Such prior offsetting shall be followed promptly by the completion of the procedures described in § 313.25.
Legislative history
This is a federal regulation, adopted through agency rulemaking under the Administrative Procedure Act — not enacted by a recorded vote of Congress.