Federal Credit Management and Debt Collection Improvements Act of 1986

[AI summary unavailable — showing source text] Federal Credit Management and Debt Collection Improvements Act of 1986 - Establishes in the Department of the Treasury an Under Secretary of the Treasury for Debt Collection and Credit Management, who shall be appointed by the President, by and with the consent of the Senate. Sets forth the functions of the Under Secretary with respect to establishing and implementing a comprehensive Federal debt collection and credit management plan. Directs the Comptroller General to report to the Congress an analysis of such plan, together with comments. Requires executive agency proposals for new credit programs to contain an explicit statement of any subsidies involved. Requires interest rates in new direct loan programs to be related to market rates for comparable private sector loan programs. Requires the assessment of loan origination and application fees to defray administrative costs and costs of defaulted loans. Prohibits loans to persons who are delinquent in debt payments to the United States. Sets forth the circumstances under which a person who has defaulted on a prior loan may be allowed another loan. Requires loan contracts to contain default and acceleration clauses. Requires each…