12 C.F.R. § 340.3 What are the restrictions on the sale of assets by the FDIC if the buyer wants to finance the purchase with a loan from the FDIC?
Title 12 - Banks and Banking
A person may not borrow money or accept credit from the FDIC in connection with the purchase of any assets from the FDIC or any failed institution if: (a) There has been a default with respect to one or more obligations totaling in excess of $1,000,000 owed by that person or its associated person; and (b) The person or its associated person made any fraudulent misrepresentations in connection with any such obligation(s).
Title 12: Banks and Banking
PART 340—RESTRICTIONS ON SALE OF ASSETS BY THE FEDERAL DEPOSIT INSURANCE CORPORATION
§ 340.3 What are the restrictions on the sale of assets by the FDIC if the buyer wants to finance the purchase with a loan from the FDIC?
