---
kind: "section"
citation: "31 C.F.R. § 588.409"
title: "31"
number: "588.409"
heading: "Credit extended and cards issued by financial institutions to a person whose property and interests in property are blocked."
url: "https://uscodex.org/cfr/31/588.409"
---

# §588.409. Credit extended and cards issued by financial institutions to a person whose property and interests in property are blocked.


The prohibition in [§ 588.201](/cfr/31/588.201.md) on dealing in property subject to that section prohibits 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 a person whose property and interests in property are blocked pursuant to [§ 588.201](/cfr/31/588.201.md).


## Notes

### Authority

Authority: 3 U.S.C. 301; 31 U.S.C. 321(b); 50 U.S.C. 1601 et seq., 1701 et seq.; 22 U.S.C. 287c; Pub. L. 101-410, 104 Stat. 890, as amended (28 U.S.C. 2461 note); E.O. 13219, 66 FR 34777, 3 CFR, 2001 Comp., p. 778; E.O. 13304, 68 FR 32315, 3 CFR, 2004 Comp., p. 229; E.O. 14033, 86 FR 43905, 3 CFR, 2022 Comp., p. 591.

### Source

Source: 87 FR 58996, Sept. 29, 2022, unless otherwise noted.