12 C.F.R. § 1704.25 Voluntary repayment agreements as alternative to salary offset where OFHEO is the creditor agency.
Title 12 - Banks and Banking
(a) Proposed repayment schedule. In response to a Notice of Intent, an employee may propose to repay the debt voluntarily in lieu of salary offset by submitting a written proposed repayment schedule to OFHEO. Any proposal under this section must be received by OFHEO within 15 calendar days after receipt of the Notice of Intent. (b) Notification of decision. In response to a timely proposal by the employee, OFHEO shall notify the employee whether the employee's proposed repayment schedule is acceptable. OFHEO has the discretion to accept, reject, or propose to the employee a modification of the proposed repayment schedule. (1) If OFHEO decides that the proposed repayment schedule is unacceptable, the employee shall have 15 calendar days from the date he or she received notice of the decision in which to file a request for a hearing. (2) If OFHEO decides that the proposed repayment schedule is acceptable or the employee agrees to a modification proposed by OFHEO, an agreement shall be put in writing and signed by both the employee and OFHEO.
Title 12: Banks and Banking
PART 1704—DEBT COLLECTION
Subpart B—Salary Offset
§ 1704.25 Voluntary repayment agreements as alternative to salary offset where OFHEO is the creditor agency.
