31 CFR 355.5 - What warranties does a presenting bank make?

§ 355.5 What warranties does a presenting bank make?

(a) A presenting bank makes the warranties required of a sender under subpart A of regulation J ( 12 CFR part 210). This paragraph does not limit any warranty by a presenter or other party arising under State law.

(b) We are not barred from recovering on a breach of warranty solely because:

(1) Our negligence contributed to a fraudulent endorsement or material alteration;

(2) We did not promptly discover an unauthorized signature or alteration;

(3) An impostor fraudulently caused the issuance of a fiscal agency check in the name of any existing payee; or

(4) Our employee fraudulently caused the issuance of a fiscal agency check in the name of any existing payee.

Title 31 published on 08-Apr-2017 03:32

The following are ALL rules, proposed rules, and notices (chronologically) published in the Federal Register relating to 31 CFR Part 355 after this date.

  • 2013-10-02; vol. 78 # 191 - Wednesday, October 2, 2013
    1. 78 FR 60695 - Regulatory Reorganization; Administrative Changes to Regulations Due to the Consolidation of the Financial Management Service and the Bureau of the Public Debt Into the Bureau of the Fiscal Service
      GPO FDSys XML | Text
      DEPARTMENT OF THE TREASURY, Fiscal Service, Bureau of the Fiscal Service
      Final rule.
      This rule is effective on October 2, 2013.
      31 CFR Chapter II, Parts 202-391