Code of Federal Regulations (Last Updated: July 5, 2024) |
Title 12 - Banks and Banking |
Chapter XVII - Office of Federal Housing Enterprise Oversight, Department of Housing and Urban Development |
SubChapter A - OFHEO Organization and Functions |
Part 1704 - DEBT COLLECTION |
Subpart B - Salary Offset |
§ 1704.31 - Refunds.
Latest version.
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(a) Where OFHEO is the creditor agency, OFHEO shall promptly refund any amount deducted under the authority of 5 U.S.C. 5514 when:
(1) OFHEO receives notice that the debt has been compromised or otherwise found not to be owing to the Federal Government; or
(2) An administrative or judicial order directs OFHEO to make a refund.
(b) Unless required by law or contract, refunds under this section shall not bear interest.