31 CFR 588.410 - Setoffs prohibited.

Regulations last checked for updates: May 23, 2025

Title 31 - Money and Finance: Treasury last revised: May 14, 2025

View all text of Subpart D [§ 588.401 - § 588.411]

§ 588.410 - 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 § 588.201 if effected after the effective date.

authority: 3 U.S.C. 301; 31 U.S.C. 321(b); 50 U.S.C. 1601

source: 87 FR 58996, Sept. 29, 2022, unless otherwise noted.

cite as: 31 CFR 588.410