share$80,500
Guaranty Bank and Trust pays $80,500 flood insurance penalty
Issued by FDIC
1005.35—Acts of agents.
A remittance transfer provider is liable for any violation of this subpart by an agent when such agent acts for the provider.
Official Interpretation
Section 1005.35 – Acts of Agents
1. General. Remittance transfer providers must comply with the requirements of subpart B, including, but not limited to, providing the disclosures set forth in § 1005.31 and providing any remedies as set forth in § 1005.33, even if an agent or other person performs functions for the remittance transfer provider, and regardless of whether the provider has an agreement with a third party that transfers or otherwise makes funds available to a designated recipient.
First published on:
07/24/2014