Code of Federal Regulations (Last Updated: July 5, 2024) |
Title 31 - Money and Finance: Treasury |
Subtitle B - Regulations Relating to Money and Finance |
Chapter V - Office of Foreign Assets Control, Department of the Treasury |
Part 595 - Terrorism Sanctions Regulations |
Subpart E - Licenses, Authorizations, and Statements of Licensing Policy |
§ 595.505 - Entries in certain accounts for normal service charges authorized.
-
§ 595.505 Entries in certain accounts for normal service charges authorized.
(a) U.S. financial institutions are hereby authorized to debit any blocked account with such U.S. financial institution in payment or reimbursement for normal service charges owed to such U.S. financial institution by the owner of such blocked account.
(b) As used in this section, the term normal service charge shall include charges in payment or reimbursement for interest due; cable, telegraph, or telephone charges; postage costs; custody fees; small adjustment charges to correct bookkeeping errors; and, but not by way of limitation, minimum balance charges, notary and protest fees, and charges for reference books, photostats, credit reports, transcripts of statements, registered mail insurance, stationary and supplies, check books, and other similar items.