757. Are U.S. banking institutions authorized to process "U-turn" transactions in which Cuba or a Cuban national has an interest?

No. Effective September 30, 2026, banking institutions subject to U.S. jurisdiction are prohibited from processing "U-turn" transactions, i.e., funds transfers originating and terminating outside the United States, where neither the originator nor the beneficiary is a person subject to U.S. jurisdiction. However, banking institutions subject to U.S. jurisdiction are authorized pursuant to 31 CFR § 515.584(d) to reject (vice block) such "U-turn" transactions.

Date Updated: September 29, 2026