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USDA/RBS

RIN: 0570-AA62

Publication ID: Fall 2008

Title: Amendment of Guarantee Requirements
Abstract: The Agency proposes to add a paragraph providing that any amounts paid by the Agency pursuant to a claim by a guaranteed lender will constitute a Federal debt owing to the Agency, by any third-party guarantor of the defaulted loans, to the extent of the amount of the third-party guarantee. The Agency is revising section 1951 to 133 to clarify that any amounts paid by the Agency on account of the liabilities of a guaranteed loan borrower will constitute a Federal debt owing to the government by the guaranteed loan borrower and third party guarantors and modifies the original section to encompass all Rural Development Business Programs' guaranteed borrowers. Rural Development may use all remedies available to it, including offset under the Debt Collection Improvement Act (DCIA), to collect the debt from the borrower or guarantor.
Agency: Department of Agriculture(USDA)	Priority: Substantive, Nonsignificant
RIN Status: Previously published in the Unified Agenda	Agenda Stage of Rulemaking: Completed Actions
Major: No	Unfunded Mandates: No
CFR Citation: 7 CFR 1951, subpart C (To search for a specific CFR, visit the Code of Federal Regulations.)
Legal Authority: 5 USC 301 7 USC 1932, note 7 USC 1989 31 USC 3716 412 USC 1480

Legal Deadline: None

Timetable:

Action	Date	FR Cite
Merged With RIN 0570-AA65	07/31/2008

Additional Information: Merged with RIN 0570-AA65, Delivery Enhance Guarantee Loan rule.
Regulatory Flexibility Analysis Required: No	Government Levels Affected: None
Federalism: No
Included in the Regulatory Plan: No
RIN Data Printed in the FR: No
Related RINs: Merged with 0570-AA65
Agency Contact: Robin Meigel Finance Specialist Department of Agriculture STOP 1569, 1400 Independence Avenue SW, Washington, DC 20250-1569 Phone:202 720-9452 Fax:202 720-7491 Email: robin.meigel@wdc.usda.gov