31 CFR 555.410 - Setoffs prohibited.

Regulations last checked for updates: May 18, 2024

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

View all text of Subpart D [§ 555.401 - § 555.411]

§ 555.410 - 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 § 555.201 if effected after the effective date.

authority: 3 U.S.C. 301; 22 U.S.C. 287c; 31 U.S.C. 321(b); 50 U.S.C. 1601-1651,1701; Pub. L. 101-410, 104 Stat. 890, as amended (28 U.S.C. 2461 note); E.O. 13882, 84 FR 37055, 3 CFR, 2019 Comp., p. 346

source: 88 FR 52028, Aug. 7, 2023, unless otherwise noted.

cite as: 31 CFR 555.410