ContractFederal Reserve Bank Payment Order Liability Agreement • June 14th, 2024
receiving bank. This section clarifies that in connection with the handling of payment or- ders, Federal Reserve Banks may not agree to be liable for consequential damages under this provision and shall not be liable for damages other than those that may be due under Article 4A to parties governed by this subpart. Any agreement in conflict with these provisions would not be effective, be- cause it would be in violation of subpart C.
