StacksVerified U.S. regulatory reference

12 CFR §1408.40

Verified against eCFR.gov as of June 20, 2026View official text on eCFR.gov ↗
  1. (a)In instances where the Corporation is the creditor agency, it shall promptly refund any amounts deducted under the authority of 5 U.S.C. 5514 when:
    1. (1)The debt is waived or otherwise found not to be owed to the United States (unless expressly prohibited by statute or regulations); or
    2. (2)An administrative or judicial order directs the Corporation to make a refund.
  2. (b)Unless required or permitted by law or contract, refunds under this section shall not bear interest.