Offset prior to completion of procedures.

  1. Law
  2. CFR 12
  3. Banks and Banking
  4. Federal Deposit Insurance Corporation
  5. Procedure and Rules of Practice
  6. Procedures for Collection of Corporate Debt, Criminal Restitution Debt, and Civil Money Penalty Debt
  7. Administrative Offset
  8. Offset prior to completion of procedures.

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§ 313.23 Offset prior to completion of procedures.

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.


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