1. Regulations
  2. title 31
  3. chapter II
  4. part 370
  5. subpart C
  6. § 370.22

View all text of Subpart C [§ 370.20 - § 370.26]

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

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.

AUTHORITY: 12 U.S.C. 391; 31 U.S.C. chapter 31.

SOURCE: 64 FR 40487, July 26, 1999, unless otherwise noted.

CITE AS: 31 CFR 370.22