12 CFR 797.5

§ 797.5 Authority and scope.

United States · 12 CFR — Banks and Banking · Status: effective

Cite this

Citation: 12 CFR 797.5, § 797.5 Authority and scope, United States, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/49130
Permanent ID: ys:prov:49130@1
SHA-256: 2eed95fe4e32954b7530c7694f45d0cab9c327ba74d5ad544e9b3f763251f2e7

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Full text

NCUA may collect a debt owed to the federal government from a person, organization, or other entity by administrative offset, pursuant to 31 U.S.C. 3716, where: (a) The debt is certain in amount; (b) Administrative offset is feasible, desirable, and not otherwise prohibited; (c) The applicable statute of limitations has not expired; and (d) Administrative offset is in the best interest of the federal government.

Legislative history

This is a federal regulation, adopted through agency rulemaking under the Administrative Procedure Act — not enacted by a recorded vote of Congress.