31 C.F.R. § 321.15 Liability for losses.
Title 31 - Money and Finance: Treasury
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.
Title 31: Money and Finance: Treasury
PART 321—PAYMENTS BY BANKS AND OTHER FINANCIAL INSTITUTIONS OF UNITED STATES SAVINGS BONDS AND UNITED STATES SAVINGS NOTES (FREEDOM SHARES)
Subpart E—Losses Resulting From Erroneous Payments
§ 321.15 Liability for losses.
