31 C.F.R. § 370.15 What limitations exist on liability?
Title 31 - Money and Finance: Treasury
(a) We may rely on the information provided by you or anyone else authorized to provide information concerning your financial institution or deposit account to which payments are to be made. We do not need to verify this information. We are not liable for any action we may take in reliance on the information furnished. (b) Our liability does not extend beyond the amount of the payment due. (c) When you name a financial institution to receive payments on your behalf, you are appointing that institution as your agent for the receipt of payments. When a credit entry is made to your financial institution for deposit to your account following your instructions, we no longer have any further responsibility for that payment. Where your financial institution has arranged with the Federal Reserve Bank to have payments made through another financial institution, the crediting of your payment to that institution relieves us of any further responsibility for that payment.
Title 31: Money and Finance: Treasury
PART 370—ELECTRONIC TRANSACTIONS AND FUNDS TRANSFERS RELATING TO UNITED STATES SECURITIES
Subpart B—Credit ACH Entries
§ 370.15 What limitations exist on liability?
