§ 1073.202 Collection.
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Title 12—Banks and Banking > CHAPTER X—CONSUMER FINANCIAL PROTECTION BUREAU > PART 1073—PROCEDURES FOR BUREAU DEBT COLLECTION > Subpart B—Administrative Offset
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(a) The Director may collect a claim from a person by administrative offset of monies payable by the Government only after:
(1) Providing the debtor with the procedures of this subpart; and
(2) Providing the paying agency with written certification that the debtor owes the debt in the amount stated and that the Bureau, as creditor agency, has complied with this part.
(b) The Director will initiate collection by administrative offset of only those debts for which that remedy is permissible under 31 CFR 901.3(a).
(c) Unless otherwise provided, debts or payments not subject to administrative offset under 31 U.S.C. 3716 may be collected by administrative offset under common law, or any other applicable statutory authority.
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