Informal enforcement actions—7(a) Lenders.

CFR · 2024-01-01 · US · Title 13

(a) Upon a determination that the grounds in § 120.1400 exist, the D/OCRM may undertake, in his/her discretion, (b) Informal enforcement actions include, but are not limited to: (1) (2) (3) (i) Include specific written commitments to take corrective actions in response to the 7(a) Lender's acknowledged deficiencies; (ii) Identify the person(s) responsible for taking the corrective action; and (iii) Set forth the timeframe for taking the corrective action. The document may be drafted by SBA or the 7(a) Lender; (4) (5) (c) A 7(a) Lender may appeal informal enforcement actions to the appropriate Federal district court or SBA's Office of Hearings and Appeals (OHA) within 20 calendar days of the date of the decision, and in the event of an OHA appeal, OHA will issue its decision in accordance with part 134 of this title. The enforcement action will remain in effect pending resolution of the appeal, if any. SBA is not precluded from taking one or more formal enforcement actions under § 120.1500, or as otherwise authorized by law, while an appeal of an informal enforcement action is pending.

official document · source cfr-2024 · id 13:§ 120.1300