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12 C.F.R. § 1704.40   Authority and scope.

Title 12 - Banks and Banking

Title 12: Banks and Banking
PART 1704—DEBT COLLECTION
Subpart C—Administrative Offset

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§ 1704.40   Authority and scope.

OFHEO may collect a debt owed to the Federal Government from a person, organization, or other entity by administrative offset, pursuant to 31 U.S.C. 3716, where:

(a) The debt is certain in amount;

(b) Administrative offset is feasible, desirable, and not otherwise prohibited;

(c) The applicable statute of limitations has not expired; and

(d) Administrative offset is in the best interest of the Federal Government.

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