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Related Flashcards
Cards In This Set
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Administers economic sanctions and embargo programs that require assets of targeted parties to be blocked or frozen.
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U.S. Treasury Department's Office of Foreign Assets Control (OFAC)
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Governs Federal payments made through the ACH Network
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Title 31 Code of Federal Regulation Part 210 (31 CFR 210)
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Establishes procedures for the interbank system of collecting checks and wire transfers, and transferring funds in the Federal Reserve System.
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Regulation J
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Governs the clearing and settlement of commercial ACH transactions by the Federal Reserve Banks, ODFIs and RDFIs
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Federal Reserve Bank Operating Circular No. 4 (FRB OC 4)
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Governs the basic rights and obligations of consumers and financial institutions for the usage of electronic funds transfer services.
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Regulation E
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Applies only to Government securities issued by the Bureau of Public Debt and made through the ACH Network.
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Title 31 Code of Federal Regulations Part 370 (31 CFR 370)
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Specifies reserve requirements that depository institutions must maintain at the Federal Reserve Banks.
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Regulation D
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A comprehensive body of law for wholesale electronic funds transfers.
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Uniform Commercial Code Article 4A (UCC 4A)
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A banking circular issued to address large-dollar payment system risks.
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OCC 235
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Provides rules for financial institutions that use EFT mechanisms to process Federal Tax payment through the EFTPS.
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Title 31 Code of Federal Regulation Part 203 (31 CFR 203)
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Basis for the "Green Book"
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Title 31 Code of Federal Regulation Part 210 (31 CFR 210)
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Act enabled in 1970 to fight money laundering and other crimes
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Bank Secrecy Act
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Committee which, in the 1970s, laid the groundwork for the ACH Network.
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Special Committee on Paperless Entries (SCOPE)
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Private sector ACH Operator located in New York
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EPN or Electronic Payments Network
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This act provides that a properly prepared substitue check is the legal equivalent of the original check.
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Check Clearing for the 21st Century Act (Check21)
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