Debt Collection Improvement Act-Treasury Offset and Cross Servicing
rural-development · Rural Housing Service · Rule · Published 2004-01-22 · Effective 2004-01-22 · 69 FR 2999
Document
Document number
04-1261
Federal Register citation
69 FR 2999
CFR reference
7 CFR 1951
Type
Rule
Action
Final rule.
Category
rural-development
Sub-agency
Rural Housing Service
Publication date
2004-01-22
Effective date
2004-01-22
Abstract
This action amends the regulations governing the servicing of Rural Business-Cooperative Service (RBS) loan and grant programs by adding a section to clarify that any amounts paid by RBS on account of the liabilities of a guaranteed loan borrower will constitute a Federal debt owing to RBS by the guaranteed loan borrower. RBS may use all remedies available to it, including offset under the Debt Collection Improvement Act (DCIA), to collect the debt from the borrower.