---
kind: "section"
citation: "12 C.F.R. § 1208.31"
title: "12"
number: "1208.31"
heading: "Refunds."
url: "https://uscodex.org/cfr/12/1208.31"
---

# §1208.31. Refunds.

- (a) Where FHFA is the creditor agency, FHFA shall promptly refund any amount deducted under the authority of [5 U.S.C. 5514](/usc/5/5514.md) when:
  - (1) FHFA receives notice that the debt has been waived or otherwise found not to be owing to the Federal Government; or
  - (2) **An administrative or judicial order directs FHFA to make a refund.**
- (b) Unless required by law or contract, refunds under this section shall not bear interest.

## Notes

### Authority

Authority: 5 U.S.C. 5514; 12 U.S.C. 4526; 26 U.S.C. 6402(d); 31 U.S.C. 3701-3720D; 31 CFR 285.2; 31 CFR Chapter IX.