{"data":{"id":"us/12-cfr-340.3","jurisdiction":"us","citation":"12 CFR 340.3","heading":"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?","body":"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:\n(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\n(b) The person or its associated person made any fraudulent misrepresentations in connection with any such obligation(s).","path":["Title 12—Banks and Banking","CHAPTER III—FEDERAL DEPOSIT INSURANCE CORPORATION","SUBCHAPTER B—REGULATIONS AND STATEMENTS OF GENERAL POLICY","PART 340—RESTRICTIONS ON SALE OF ASSETS OF A FAILED INSTITUTION BY THE FEDERAL DEPOSIT INSURANCE CORPORATION"],"source_url":"https://www.ecfr.gov/api/versioner/v1/full/2026-08-25/title-12.xml","current_through":"2026-08-25","vintage":"","retrieved_at":"2026-08-27T02:24:16Z","sha256":"a4675d6d0b91d004e27aa13ced086d1ff48b193e8c10acc9f8f11f8aca68f8f5","source_id":"us-cfr","stale":true,"prev":"us/12-cfr-340.2","next":"us/12-cfr-340.4"},"notice":"GroundRules: Original legal text. Not legal advice."}