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Does Right to Offset Work In Both Directions?

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Question: 
Does the right of offset work in both directions? In other words, if we have an overpayment on a loan payoff, can that difference be credited to a charged off DDA account for that customer?
Answer: 

See the Commentary to Reg. Z 1026.21 and then discuss your options with your attorney.

First published on 12/01/2014

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