12 CFR 1208.61

§ 1208.61 Notice.

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

Cite this

Citation: 12 CFR 1208.61, § 1208.61 Notice, United States, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/50206
Permanent ID: ys:prov:50206@1
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Full text

At least 30 days before the initiation of garnishment proceedings, FHFA will send, by first class mail to the debtor's last known address, a written notice informing the debtor of: (a) The nature and amount of the debt; (b) FHFA's intention to initiate proceedings to collect the debt through deductions from the debtor's pay until the debt and all accumulated interest penalties and administrative costs are paid in full; (c) An explanation of the debtor's rights as set forth in § 1208.62(c); and (d) The time frame within which the debtor may exercise these rights. FHFA shall retain a stamped copy of the notice indicating the date the notice was mailed.

Legislative history

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