Code of Federal Regulations · Section
§ 510.409 — Credit Extended And Cards Issued By Financial Institutions To A Person Whose Property And Interests In Property Are Blocked
31 C.F.R. § 510.409
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The prohibition in § 510.201 on dealing in property subject to that section and the prohibition in § 510.206 on exporting services to North Korea prohibit U.S. financial institutions from performing under any existing credit agreements, including charge cards, debit cards, or other credit facilities issued by a financial institution to the Government of North Korea, the Workers' Party of Korea, or any other person whose property and interests in property are blocked pursuant to § 510.201(a).
Authorizing Statute
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General authority of the Secretary31 U.S.C. § 321
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Mode of recovery28 U.S.C. § 2461
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Termination of existing declared emergencies50 U.S.C. § 1601