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B-194072 1 (1979-07-02)

handle is hein.gao/gaobadhjg0001 and id is 1 raw text is: THE COMPTROLLER GENERAL DECISION . A OF THE UNITED STATES WVASHINGTON. O.C. 2O549 FILE: B-194072 DATE: July 2,. 19T9 MATTER OF: Richard J. Elliott - Real Estate Expenses - Loan Origination Fee 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 Section 106 of Truth in Lending Act, Title I, Pub. L. 90-321, 15 U.S.C. §1605 (1976) and Regulation Z, 12 C.F.R. §226.4(a) (1978) and is thus not reimbursable under Federal Travel Regulations (FPMR 101-7) paragraph 2-6.2d (May 1973). This action is in response to a letter dated February 1, 1979, from Mr. R. A. Hicks, an authorized certifying officer of the tf Department of the Interior. Mr. Hicks requests our decision whether he may certify for payment a voucher submitted by Special Agent Richard J. Elliott, an employee of the Fish and Wildlife kZ-COff Service. Mr. Elliott, who was transferred from St. Paul,Minnesota, to Columbus, Ohiowith a reporting date of October 9, 1977, is seeking reimbursement of a loan origination fee of $414 which he paid when he purchased a home at his new official station. The amount was previously disallowed by Interior. Mr. Elliott's claim was disallowed by the Department of the Interior on the basis that the loan origination fee represented a finance charge under Section 106 of the Truth in Lending Act, Title I, Pub. L. 90-321, 15 U.S.C. §1605 (1976) and the implementing Regulation Z, 12 C.F.R. §226.4(a) (1978), and was.thus not reimburs- able under the Federal Travel Regulations (FPMR 101-7) paragraph 2-6.2d (May 1973). The pertinent part of Regulation Z provides: 226.4 Determination of finance charge. (a) General rule. Except as otherwise provided in this section, the amount of the finance charge in connection with any transaction shall be determined as the sum of all charges payable directly or indirectly by the creditor as an incident to or as a condition' of the extension of credit, whether paid or payable by the customer, the seller, or any other person on

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