31 CFR § 321.15 Payments by Banks and Other Financial Institutions of Definitive United States Savings Bonds and United States Savings Notes (Freedom Shares)

§ 321.15 Liability for losses.

Current through Oct 6, 2026 · Read all of Part 321

Under the governing statute, as amended (31 U.S.C. 3126(a)), an agent cannot be relieved of liability for a loss resulting from an erroneous payment unless the Secretary of the Treasury can make a determination that the loss resulted from no fault or negligence on the agent's part.

← § 321.14 Transmittal to and settlement with a Federal Reserve Processing Site.§ 321.16 Report of erroneous payment. →