C.F.R. » Title 12 » CHAPTER I—COMPTROLLER OF THE CURRENCY, DEPARTMENT OF THE TREASURY › PART 7—ACTIVITIES AND OPERATIONS › Subpart A—National Bank and Federal Savings Association Powers

12 C.F.R. § 7.1014

Sale of money orders at nonbanking outlets by a national bank

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A national bank may designate bonded agents to sell the bank's money orders at nonbanking outlets. The responsibility of both the bank and its agent should be defined in a written agreement setting forth the duties of both parties and providing for remuneration of the agent. The bank's agents need not report on sales and transmit funds from the nonbanking outlets more frequently than at the end of the third business day following receipt of the funds.

Notes of Decisions
Cited in 1 case, 2007–2007 · leading case: Spggc, LLC Metabank U.S. Bank, N.A. v. Kelly A. Ayotte, New Hampshire Attorney Gen., 488 F.3d 525 (1st Cir. 2007).
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Spggc, LLC Metabank U.S. Bank, N.A. v. Kelly A. Ayotte, New Hampshire Attorney Gen., 488 F.3d 525 (1st Cir. 2007). “28,593 (May 23, 2001) (allowing agents to market automobile loans); 12 C.F.R. § 7.1014 (allowing agents to sell bank-issued money orders).”
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