---
kind: "section"
citation: "31 C.F.R. § 240.18"
title: "31"
number: "240.18"
heading: "Lack of authority to shift liability."
url: "https://uscodex.org/cfr/31/240.18"
---

# §240.18. Lack of authority to shift liability.

- (a) This part neither authorizes nor directs a financial institution to debit the account of any person or to deposit any funds from any account into a suspense account or escrow account or the equivalent. Nothing in this part shall be construed to affect a financial institution's contract with its depositor(s) under authority of state law.
- (b) A financial institution's liability under this part is not affected by any action taken by it to recover from any person the amount of the financial institution's liability to the Treasury.

## Notes

### Authority

Authority: 5 U.S.C. 301; 12 U.S.C. 391; 31 U.S.C. 321, 3327, 3328, 3331, 3334, 3343, 3711, 3712, 3716, 3717; 332 U.S. 234 (1947); 318 U.S. 363 (1943).

### Source

Source: 69 FR 61568, Oct. 19, 2004, unless otherwise noted.