designated payment system
Defined in 1 place of the United States Code.
Designated payment system.—The term "designated payment system" means any system utilized by a financial transaction provider that the Secretary and the Board of Governors of the Federal Reserve System, in consultation with the Attorney General, jointly determine, by regulation or order, could be utilized in connection with, or to facilitate, any restricted transaction.
Source
- 2006–present31 U.S.C. § 5362Money and Finance · Definitions · in this subchapter
The term “designated payment system” means any system utilized by a financial transaction provider that the Secretary and the Board of Governors of the Federal Reserve System, in consultation with the Attorney General, jointly determine, by regulation or order, could be utilized in connection with, or to facilitate, any restricted transaction.
Source
- 201331 U.S.C. § 5362Money and Finance · Definitions · in this subchapter