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B-198296 1 (1980-09-23)

handle is hein.gao/gaobadioo0001 and id is 1 raw text is: ) L a- THE COMPTROLLER GENERAL DECISION Ji OF THE UNITED STATES WASHINGTON. 0. c. 2o48 FILE: B-198296 DATE: September 23, 1980 MATTER OF: Algis G. Taruski - Loan Origination F ee DIGEST: Transferred employee may not be reimbursed loan origination fee incurred incident to purchase of home at new official duty station since fee is finance charge within the purview of Truth in Lending Act, 15 U.S.C. § 1601, et seq. (1976) and Regulation Z, 12 C.F.R. § 226.4 (1980). Federal Travel Regulations (FPMR 101-7) paragraph 2-6.2d (May 1973), prohibit the reimbursement of any fee, cost, charge, or expense which is deter- mined to be a part of the finance charge under the Truth in Lending Act and Regulation Z. I Mr. P.M. Baldino, Chief, Finance and Accounting Division, Resource Management Office, Office of the Chief of Engineers, Department of the Army, requests our decision on the propriety of paying a voucher for a loan origination fee when the employee has not pro- vided an itemization of the fee to show which, if any, portions are reimbursable. Mr. Algis G. Taruski, an employee of the Corps of Engineers (Corps) was transferred from Galveston, Texas, to Palatka, Florida, effective March 22, 1979. Mr. Taruski purchased a residence in Palatka, and incurred a charge for a loan origination fee of $1,312.50, representing 2-1/2 percent of the loan amount. That amount was disallowed by the Corps on the basis that this Office has ruled that loan origi- nation fees may not be reimbursed since they repre- sent finance charges. Mr. Taruski was further advised that if he would itemize the separate items of the loan origination fee, the Corps would reconsider his voucher to determine if any of the items were reim- bursable. Instead of providing an itemization, . t 4

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