12 CFR 1073.203
§ 1073.203 Omission of procedures.
United States · 12 CFR — Banks and Banking · Status: effective
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- Citation
- 12 CFR 1073.203, § 1073.203 Omission of procedures, United States, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/49856
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Full text
The Bureau shall not be required to follow the procedures described in § 1073.204 where:
(a) The offset is in the nature of a recoupment;
(b) The debt arises under a contract as set forth in Cecile Industries, Inc. v. Cheney, 995 F.2d 1052 (Fed. Cir. 1993); or
(c) In the case of non-centralized administrative offsets, the Bureau first learns of the existence of the amount owed by the debtor when there is insufficient time before payment would be made to the debtor/payee to allow for prior notice and an opportunity to review. When prior notice and an opportunity to review are omitted, the Director shall give the debtor such notice and an opportunity for review as soon as practicable and shall promptly refund any money ultimately found not to be due to the U.S. 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.