# Loan Payments and Collections
> **Rural Housing Service** · Final rule. · Published 2003-10-28 · 68 FR 61329
## Document
- **Document number:** 03-27046
- **Category:** other
- **Sub-agency:** Rural Housing Service
- **Federal Register citation:** 68 FR 61329
- **CFR reference:** 7 CFR 1902
- **Publication date:** 2003-10-28
## Abstract

The Agencies are revising their internal loan payment and collections regulations to replace the current regulations. This action is necessary since existing regulations are obsolete and do not accurately reflect the current payment and collections methodologies employed by the Agencies. The intended effect is to simplify and update the regulations; update internal control procedures for safeguarding collections; remove references to the Concentration Banking System (CBS) procedures which were eliminated in November 1997; and to add procedures for new electronic payment methods that are currently in use by the Agencies (Preauthorized Debits, FedWire, Customer Initiated Payments, etc.). These amended regulations are to ensure the Agencies' field offices have current guidance on the payment and collection methods available and how to use them.

## Source
- [Federal Register document](https://www.federalregister.gov/documents/2003/10/28/03-27046/loan-payments-and-collections)
---
*AI Analytics · CC0 1.0*