12 C.F.R. § 340.3

What are the restrictions on the sale of assets by the FDIC if the buyer wants to finance the purchase with a loan from the FDIC?

Last amended: 2016Year: 2026Length: 72 wordsOfficial source

Cite as 12 C.F.R. § 340.3 (2026)

A person may not borrow money or accept credit from the FDIC in connection with the purchase of any assets of a failed institution from the FDIC if: (a) There has been a default with respect to one or more obligations totaling in excess of $1,000,000 owed by that person or its associated person; and (b) The person or its associated person made any fraudulent misrepresentations in connection with any such obligation(s).
12 C.F.R. § 340.3: What are the restrictions on the sale of assets by the FDIC if the buyer wants to finance the purchase with a loan from the FDIC? | Justis AI