Code of Federal Regulations · Section
§ 313.51 — Refunds
12 C.F.R. § 313.51
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(a) Where the FDIC is the creditor agency, it shall promptly refund any amount deducted under the authority of 5 U.S.C. 5514 when the debt is compromised or otherwise found not to be owing to the United States, or when an administrative or judicial order directs the FDIC to make a refund.
(b) Unless required by law or contract, such refunds shall not bear interest.
Authorizing Statute
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Installment deduction for indebtedness to the United States5 U.S.C. § 5514
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Termination of status as insured depository institution12 U.S.C. § 1818
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Definitions and application31 U.S.C. § 3701