C.F.R. » Title 12 » CHAPTER II—FEDERAL RESERVE SYSTEM › SUBCHAPTER A—BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM › PART 210—COLLECTION OF CHECKS AND OTHER ITEMS BY FEDERAL RESERVE BANKS AND FUNDS TRANSFERS THROUGH THE FEDWIRE FUNDS SERVICE AND THE FEDNOW SERVICE (REGULATION J) › Subpart B—Funds Transfers Through the Fedwire Funds Service

12 C.F.R. § 210.27

Reliance on identifying number

Read at: eCFRecfr.gov CornellLII GovInfogovinfo.gov CasesGoogle Scholar

(a) Reliance by a Federal Reserve Bank on number to identify an intermediary bank or beneficiary's bank. A Federal Reserve Bank may rely on the number in a payment order that identifies the intermediary bank or beneficiary's bank, even if it identifies a bank different from the bank identified by name in the payment order, if the Federal Reserve Bank does not know of such an inconsistency in identification. A Federal Reserve Bank has no duty to detect any such inconsistency in identification.

(b) Reliance by a Federal Reserve Bank on number to identify beneficiary. A Federal Reserve Bank, acting as a beneficiary's bank, may rely on the number in a payment order that identifies the beneficiary, even if it identifies a person different from the person identified by name in the payment order, if the Federal Reserve Bank does not know of such an inconsistency in identification. A Federal Reserve Bank has no duty to detect any such inconsistency in identification.

Notes of Decisions
Cited in 3 cases, 2002–2004 · leading case: Regions Bank v. The Provident Bank, Inc., 345 F.3d 1267 (11th Cir. 2003).
Sort: Relevance Newest Treatment
Regions Bank v. The Provident Bank, Inc., 345 F.3d 1267 (11th Cir. 2003). · cites it 2× “3d at 223, “if the Federal Reserve Bank does not know of such an inconsistency in identification,” 12 C.F.R. § 210.27 . See also Eisenberg, 301 F.”
Eric Eisenberg v. Wachovia Bank, N.A., 301 F.3d 220 (4th Cir. 2002). “See 12 C.F.R. § 210.27 (2002). Wachovia properly processed Eisenberg’s funds transfer order under the standards of Sub-part B.”
TME Enter., Inc. v. Norwest Corp., 2004 Cal. Daily Op. Serv. 10834 (Cal. Ct. App. 2004). “A; see 12 C.F.R. § 210.27 (b).) 15 UCC section 1-202, subsection (b) (formerly UCC section 1-201(25)(c)) defines “knowledge” as actual knowledge; see California Uniform Commercial section 1201, subdivision 25(c).”
Annotations are extracted automatically from the opinions in the Syfert caselaw corpus and ranked by authority, recency, and treatment. Dots show Syfertize treatment of the citing case itself.