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Code of Federal Regulations (Last Updated: October 10, 2024) |
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Title 31 - Money and Finance: Treasury |
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Subtitle B - Regulations Relating to Money and Finance |
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Chapter II - Fiscal Service, Department of the Treasury |
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SubChapter A - Bureau of the Fiscal Service |
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Part 210 - Federal Government Participation in the Automated Clearing House |
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Subpart B - Reclamation of Benefit Payments |
§ 210.9 - Parties to the reclamation.
Latest version.
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§ 210.9 Parties to the reclamation.
(a) Agreement of RDFI. An RDFI's acceptance of a benefit payment pursuant to this part shall constitute its agreement to this subpart. By accepting a benefit payment subject to this part, the RDFI authorizes the debiting of the Federal Reserve Bank account utilized by the RDFI in accordance with the provisions of § 210.10(e).
(b) The Federal Government. In processing reclamations pursuant to this subpart, the Service shall act pursuant to the direction of the agency that certified the benefit payment(s) being reclaimed.