Offset prior to completion of procedures.

CFR · 2024-01-01 · US · Title 12

The FDIC may collect a debt by administrative offset prior to the completion of the procedures described in § 313.25, if: (a) Failure to offset a payment would substantially prejudice the FDIC's ability to collect the debt; and (b) The time before the payment is to be made does not reasonably permit completion of the procedures described in § 313.25. Such prior offsetting shall be followed promptly by the completion of the procedures described in § 313.25.

official document · source cfr-2024 · id 12:§ 313.23