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31 CFR 370.22

§ 370.22 What requirements apply to a financial institution that debits a deposit account?

United States · 31 CFR — Money and Finance: Treasury · Status: effective

Banking, Finance & Insurance
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31 CFR 370.22, § 370.22 What requirements apply to a financial institution that debits a deposit account?, United States, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/140657
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Full text

A financial institution that debits a deposit account upon receiving a debit initiated by us agrees to the provisions of this subpart. A financial institution that does so also warrants that it has the authority to receive debit entries.

Legislative history

This is a federal regulation, adopted through agency rulemaking under the Administrative Procedure Act — not enacted by a recorded vote of Congress.