31 CFR § 321.15 - Liability for losses.

---
identifier: "/us/cfr/t31/s321.15"
source: "ecfr"
legal_status: "authoritative_unofficial"
title: "31 CFR § 321.15 - Liability for losses."
title_number: 31
title_name: "Money and Finance: Treasury"
section_number: "321.15"
section_name: "Liability for losses."
chapter_name: "FISCAL SERVICE, DEPARTMENT OF THE TREASURY"
subchapter_number: "A"
subchapter_name: "BUREAU OF THE FISCAL SERVICE"
part_number: "321"
part_name: "PAYMENTS BY BANKS AND OTHER FINANCIAL INSTITUTIONS OF DEFINITIVE UNITED STATES SAVINGS BONDS AND UNITED STATES SAVINGS NOTES (FREEDOM SHARES)"
positive_law: false
currency: "2026-04-05"
last_updated: "2026-04-05"
format_version: "1.1.0"
generator: "[email protected]"
authority: "5 U.S.C. 301; 12 U.S.C. 391; 31 U.S.C. 321; 31 U.S.C. 3105, 3126."
regulatory_source: "53 FR 37511, Sept. 26, 1988, unless otherwise noted."
cfr_part: "321"
---


# 321.15 Liability for losses.

Under the governing statute, as amended (31 U.S.C. 3126(a)), an agent cannot be relieved of liability for a loss resulting from an erroneous payment unless the Secretary of the Treasury can make a determination that the loss resulted from no fault or negligence on the agent's part.