Code of Federal Regulations · Section

§ 597.404 — Setoffs Prohibited

31 C.F.R. § 597.404

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A setoff against blocked funds (including a blocked account) by a U.S. financial institution is a prohibited transaction under § 597.201 if effected after the effective date.

31 C.F.R. § 597.403 31 C.F.R. § 597.405

Authorizing Statute

General authority of the Secretary
31 U.S.C. § 321
Designation of foreign terrorist organizations
8 U.S.C. § 1189
Providing material support or resources to designated foreign terrorist organizations
18 U.S.C. § 2339B
Mode of recovery
28 U.S.C. § 2461