C.F.R. » Title 31 » CHAPTER II—FISCAL SERVICE, DEPARTMENT OF THE TREASURY › SUBCHAPTER A—BUREAU OF THE FISCAL SERVICE › PART 370—ELECTRONIC TRANSACTIONS AND FUNDS TRANSFERS RELATING TO UNITED STATES SECURITIES › Subpart C—Debit Entries

31 C.F.R. § 370.22

What requirements apply to a financial institution that debits a deposit account?

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A financial institution that debits a deposit account upon receiving a debit initiated by us agrees to the provisions of this subpart. A financial institution that does so also warrants that it has the authority to receive debit entries.