31 CFR 553.410 - Setoffs prohibited.

Regulations last checked for updates: May 20, 2024

Title 31 - Money and Finance: Treasury last revised: May 10, 2024

View all text of Subpart D [§ 553.401 - § 553.411]

§ 553.410 - Setoffs prohibited.

A setoff against blocked property (including a blocked account), whether by a U.S. financial institution or other U.S. person, is a prohibited transfer under § 553.201 if effected after the effective date.

authority: 3 U.S.C. 301; 31 U.S.C. 321(b); 50 U.S.C. 1601-1651,1701; 22 U.S.C. 287c; Pub. L. 101-410, 104 Stat. 890, as amended (28 U.S.C. 2461 note); E.O. 13667, 79 FR 28387, 3 CFR, 2014 Comp., p. 243

source: 87 FR 58974, Sept. 29, 2022, unless otherwise noted.

cite as: 31 CFR 553.410