(a)If the Corporation is the creditor agency, it will promptly refund any amount deducted under the authority of 5 U.S.C. 5514, when:
(1)The debt is waived or all or part of the funds deducted are otherwise found not to be owed (unless expressly prohibited by statute or regulation); or
(2)An administrative or judicial order directs the Corporation to make a refund.
(b)Unless required or permitted by law or contract, refunds under this section will not bear interest.