Statutes, codes, and regulations
Code of Federal Regulations
Title 31 - MONEY AND FINANCE: TREASURYSubtitle B - REGULATIONS RELATING TO MONEY AND FINANCEChapter II - FISCAL SERVICE, DEPARTMENT OF THE TREASURYSubchapter A - BUREAU OF THE FISCAL SERVICEPart 321 - PAYMENTS BY BANKS AND OTHER FINANCIAL INSTITUTIONS OF DEFINITIVE UNITED STATES SAVINGS BONDS AND UNITED STATES SAVINGS NOTES (FREEDOM SHARES)
Subpart E - LOSSES RESULTING FROM ERRONEOUS PAYMENTS
Section 321.15 - Liability for losses

31 C.F.R. § 321.15

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Current through May 31, 2024
Section 321.15 - Liability for losses

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.

31 C.F.R. § 321.15