12 CFR 1073.202
§ 1073.202 Collection.
United States · 12 CFR — Banks and Banking · Status: effective
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- Citation
- 12 CFR 1073.202, § 1073.202 Collection, United States, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/49855
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Full text
(a) The Director may collect a claim from a person by administrative offset of monies payable by the Government only after:
(1) Providing the debtor with the procedures of this subpart; and
(2) Providing the paying agency with written certification that the debtor owes the debt in the amount stated and that the Bureau, as creditor agency, has complied with this part.
(b) The Director will initiate collection by administrative offset of only those debts for which that remedy is permissible under 31 CFR 901.3(a).
(c) Unless otherwise provided, debts or payments not subject to administrative offset under 31 U.S.C. 3716 may be collected by administrative offset under common law, or any other applicable statutory authority.
Legislative history
This is a federal regulation, adopted through agency rulemaking under the Administrative Procedure Act — not enacted by a recorded vote of Congress.